Pentti Hakkarainen: Banking Union – the “game-changer” in the European financial Markets Speech Mr Pentti Hakkarainen, Deputy Governor of the Bank of Finland, to Ambassadors and representatives of the EU-countries in Helsinki, Helsinki, 11 December 2014. *  *  *  Accompanying slides can be found on the Bank of Finland’s website.
Your excellences, it is a great pleasure for me to tell you today about the Banking Union and give a short overview on where we are today. The Banking Union creates a comprehensive legal and institutional framework providing authorities powers and tools to deal with ailing banks. Major steps have been taken already, but there is still some work ahead.