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Progress of financial reforms

Following the outbreak of the financial crisis in 2008, the stabilization of financial markets became a priority and financial sector reform a crucial instrument to achieve it.

In 2012, proposals were presented with a view to creating a Banking Union for the eurozone and other Member States desiring to participate, with a Single Supervisory Mechanism for banks as a key element.

You can find below a memo setting out what has been done so far to create a robust financial framework for all 28 Member States and where we stand in building the banking union. You can also find below a table listing the proposals already adopted by the European Union, those being discussed in the Parliament and the Council and those which are still to be presented by the Commission.