This project shed some light on important aspects of the Banking Union, and European integration in the financial domain in general, that had thus far not been considered by (academic and especially legal research), or had only been examined to a limited extent.
This is, for instance, the case of the impact of these initiatives of integration on Member States and their institutional frameworks, as well as of the impact of the creation of the Banking Union on accountability standards. Another dimension which this project considered is the impact of the creation of the Banking Union for citizens. As such, this project contributed to identify that, in fact, factors other than the initiatives of integration at the supranational level have, too, played an important role in shaping national institutional frameworks, and that actually domestic traditions or factors, or influence stemming from international forums have played a large(r) role. It also showed that the belonging to the Banking Union is not a significant factor in this regard. It allowed highlighting that some reforms may still be required, and that accountability standards at the domestic level have, in some instances, been improved whilst in other instances they have been worsened following the creation of the Banking Union, such that no immediate general conclusion may be drawn in this respect.
This project also examined the consequences of its creation for the EU’s institutional system. More generally, this project contributed to show how specific the Banking Union is if compared to other initiatives of integration within the EU.
These findings are particularly useful to inform the current discussions on the future of the Banking Union, as well as new reforms under consideration.
This project gave rise to new collaborations between scholars and practitioners, which have endured and developed further beyond the realm of this project. Also, this project has allowed to successfully build close ties to especially the Bank of Italy, with which a larger co-coordinated comparative publication is forthcoming.
This project’s findings have been disseminated to a large and varied audience which has included students at Sciences Po and other European academic institutions, legal scholars, economists, political economists and political scientists, practitioners from EU and national institutions, as well as a broader (young) public.