The European Council and Banking Union: European Council in Action

04-02-2016

The first permanent European Council President, Herman Van Rompuy, considered the June 2012 meeting to be 'the most important European Council' of his five-year term. At that meeting, euro-area leaders committed themselves to launching what is the most ambitious EU project since the introduction of the single currency – the Banking Union. The European Council not only provided the impetus to establish a Banking Union but EU leaders have also regularly monitored the progress being made. In the coming years, a number of challenges remain for the fine-tuning and completion of the Banking Union, and these could potentially require the European Council's further involvement.

The first permanent European Council President, Herman Van Rompuy, considered the June 2012 meeting to be 'the most important European Council' of his five-year term. At that meeting, euro-area leaders committed themselves to launching what is the most ambitious EU project since the introduction of the single currency – the Banking Union. The European Council not only provided the impetus to establish a Banking Union but EU leaders have also regularly monitored the progress being made. In the coming years, a number of challenges remain for the fine-tuning and completion of the Banking Union, and these could potentially require the European Council's further involvement.