ESM’s Regling on Protecting the Euro, Banking Union

The transcript discusses the challenges and reforms in the Euro area, emphasizing the role of crises in facilitating agreements among member states. It highlights Italy's involvement in Eurogroup reforms and the importance of consensus. The text also covers steps to strengthen the monetary union, including the expansion of the ESM and the need for a common Deposit Insurance. Controversial elements like macroeconomic stabilization are addressed, with a focus on consensus building. Finally, the impact of trade wars and the euro's potential as a reserve currency are analyzed.

What elements are still missing for a complete banking union according to the text?

How do trade wars impact global growth and the euro's position?

What role does the euro need to play in challenging the US dollar as a reserve currency?