Daniela Gabor is a professor of economics and finance at the University of West England at Bristol and a monetary economist. She specializes in shadow banking, capital markets, and transnational banking. Today, she joins the show to discuss her new paper, Chasing Unicorns: The European Single Safe Asset Project. David and Daniela also discuss merits of equity-based banking, elements of the shadow banking system, and Europe’s quest for a safe asset.