Specific Role of the Banking Sector in European Union Economies
The banking sector plays an important role in ensuring the efficient operations of economic entities. Simultaneously, this role may vary across different institutional settings. Aim. To identify the banking sector’s role in meeting the demands of the EU economies, the author conducted a detailed study, through an institutional framework, of the regulation of banking activity aimed at overcoming a crisis in the conditions of economic revitalization. Results. The author presents the results of research on the banking sector’s role in the EU economies by using modern methods. Consequently, the author is able to clarify the concept of the “banking sector,” develop its classification, and show the dual nature of its role in ensuring the stability of EU economies. In addition, the study revealed the specifics behind the development of the banking systems of the EU countries to heighten sovereign debt crisis.