The Peterson Institute for International Economics (PIIE) held its semiannual Moody's Investor Service-PIIE Sovereign Economic Panel "The European Union: Challenged and Poised for Change" on October 9, 2014. Jacob Funk Kirkegaard, Senior Fellow, PIIE, chaired the second session, "The EU financial system on the eve of the single supervisory mechanism." The panelists included: Karolina Ekholm, State Secretary, Ministry of Finance, Sweden; Michael Foley, Managing Director, Global Financial Institutions, Moody's; and Ajai Chopra, Visiting Fellow, PIIE. For more information and additional sessions of this panel, visit: www.piie.com/events/event_detail.cfm?EventID=354