Europe has been trying to control Eurozone banks through Banking Union over the past 4 years. Recently, the European Parliament finally approved a new set of regulations that allow Eurozone banks easily go into bankruptcy. However, ANBOUND think tank scholars believe that the bill only strengthen the deterrent of the central bank but cannot solve the problems of European banking industry. Political obstacles and technical problems in implementing legal texts will be the great challenges that face by the regulators in the future.