José María Méndez, CEO of CECA, has raised the issue of the absence of a single deposit guarantee fund, one of the objectives included in the Banking Union project.
During his speech at the 30th Financial Sector Meeting organised by Deloitte and ABC, he agreed with the president of the European Banking Authority (EBA), José Manuel Campa, in stating that the sector "still falls short of the objectives" of the Banking Union.
He said that "much progress" has been made on issues related to supervisors, some progress in the area of bank resolution, but highlighted, in particular, the absence of a single deposit guarantee fund to cover these products up to €100,000.
He also pointed out that ten years after the implementation of the Banking Union, there have been no significant cross-border operations due to a problem of harmonisation, including the existence of "differentiated" taxation between European countries.
