ABOUT THE AUTHOR

Phedon Nicolaides

Phedon Nicolaides is a professor at Maastricht University and the University of Nicosia. Educated in the United States, United Kingdom, and the Netherlands, he holds PhDs in both economics and law. He previously held positions at the European Institute of Public Administration, the Royal Institute of International Affairs, and the London Business School. Additionally, he has served as an advisor to various European institutions and Member States.

POSTS BY Phedon Nicolaides

25 November 2024

The European Banking Union Also Means Cross-Border Bank Consolidation

A heated debate on the risks of EU’s unfinished-effort to establish a Banking Union erupted on 11 September 2024, when the Milan-based UniCredit announced that it had amassed an equity stake of 9% in the Frankfurt-based rival Commerzbank. The German Chancellor quickly labelled UniCredit’s move an “unfriendly attack,” adding that the acquisition of Commerzbank is a threat to German financial stability. We argue that German authorities can hardly provide a legally-compelling justification to convince the ECB to reject UniCredit’s request on financial stability grounds. Continue reading >>