SOLUTIONS ON THE OPERATION OF THE EUROPEAN BANKING IN THE COMMUNITY AREA

The banking union represents a long term project that affects both the euro area countries and those outside the monetary union, involving the transfer of competences towards the supranational authority, pooling resources and creating new institutions. Since the emergence of the euro, the European banking sector has developed, and the banks have expanded across borders. In this way, the coordination of the national surveillance at bank level is no longer sufficient, given the current financial crisis that affects the EU states. Hence the idea of this community project difficult to apply, according to which banking supervision should be integrated at European Union level, not only in the euro area and allowed not only at national level. It is about integrated supervisory mechanisms, monitoring and intervention in the banking area and last, but not least it is about the financial transactions tax. The sovereign debt crisis, that includes one by one the European Union countries, requires even more a change of the European banking construction, an institutional reorganization, new community institutions, new financial banking principles, applying across the whole European Union. Regardless of the time horizon, it is essential for this new bank building to be completed by the levers and resources necessary to intervene in case of financial shortfalls.