The Transatlantic Banking Crisis: Impact and Likelihood of a Lehman-like Collapse.

Lawmakers in the European Union believe that US regulators made mistakes in failing to prevent the collapse of Silicon Valley Bank and other financial institutions. They also believe that this is a moment for some self-assessment in Europe. The EU recognizes that this is not the time to be complacent and that they have to remain vigilant. One of the main discussions in the EU in recent days has been the need to improve the European Banking Union. The US lacks some controls, and the EU believes that the US should learn from some of the regulatory works put in place in the euro area since the financial crisis.