Memo: Towards a banking union

At the European Council of 28/29 June 2012, EU leaders agreed to deepen economic and monetary union as one of the remedies of the current crisis. At that meeting, the leaders discussed the report entitled 'Towards a Genuine Economic and Monetary Union'1, prepared by the President of the European Council in close collaboration with the President of the European Commission, the Chair of the Eurogroup and the President of the European Central Bank.

This report set out the main building blocks towards deeper economic and monetary integration, including banking union.