Abstract
Economic and financial crisis has clearly shown that monetary union is not able to work effectively without a single legal framework. On that account the Banking union became one of the European most debated topics.
The concept contains four pillars; the single resolution mechanism is one of them. This article deals with the brief description of the Banking union concept but the main aim is to survey and assess the European bank restructuring field due to the fact that it's the current most important task which Europe would have to solve.