ECBs Draghi Seeks Monetary Union Stability, Prosperity

The transcript discusses the importance of risk sharing in the context of economic shocks, emphasizing the need for private risk sharing through more integrated banking and capital market unions. It highlights the challenges faced due to national regulations and the lack of political will, which have hindered cross-border banking and risk sharing in the euro area. The European Central Bank's role in improving supervision and regulation is also mentioned as a positive step forward.

What are the challenges faced in achieving a banking union and capital market union?

In what ways did national regulators impact cross-border banking?