Kleine Schritte in Richtung Bankenunion

BRÜSSEL – Zu Beginn der Finanzkrise hörte man oft das prägnante Wort von Charles Goodhart, Banken seien „international im Leben und national im Sterben“. Damals (2008 bis 2009) mussten große internationale Banken von den Regierungen ihrer Heimatländer gerettet werden, als sie in Schwierigkeiten steckten. Aber jetzt ist das Gegenteil ein Problem in Europa: Banken sind „national im Leben, aber europäisch im Sterben“.

In Spanien zum Beispiel finanzierten regionale Sparkassen (cajas) einen überdimensionierten Boom im Immobiliensektor. Als die Blase platzte, drohten die Verluste, die Kapazitäten des spanischen Staates zu überfordern, und das Problem wurde ein europäisches, weil es das Überleben des Euros selbst gefährdete.

Der Fall Spanien ist symptomatisch für ein übergeordnetes Problem. Nationale Aufsichtsbeamte tendieren dazu, Probleme zuhause kleiner zu machen als sie sind. Ihr Instinkt (und ihr bürokratisches Interesse) gibt ihnen vor, ihre eigenen Banken gegenüber anderen Ländern zu verteidigen.

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