The Political Economy Of European Banking Union
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The Political Economy Of European Banking Union
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Author : David Howarth
language : en
Publisher: Oxford University Press
Release Date : 2016-09-15
The Political Economy Of European Banking Union written by David Howarth and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-15 with Business & Economics categories.
The establishment of Banking Union represents a major development in European economic governance and European integration history more generally. Banking Union is also significant because not all European Union (EU) member states have joined, which has increased the trend towards differentiated integration in the EU, posing a major challenge to the EU as a whole and to the opt-out countries. This book is informed by two main empirical questions. Why was Banking Union - presented by proponents as a crucial move to 'complete' Economic and Monetary Union (EMU) - proposed only in 2012, over twenty years after the adoption of the Maastricht Treaty? Why has a certain design for Banking Union been agreed and some elements of this design prioritized over others? A two-step explanation is articulated in this study. First, it explains why euro area member state governments moved to consider Banking Union by building on the concept of the 'financial trilemma', and examining the implications of the single currency for euro area member state banking systems. Second, it explains the design of Banking Union by examining the preferences of member state governments on the core components of Banking Union and developing a comparative political economy analysis focused on the configuration of national banking systems and varying national concern for the moral hazard facing banks and sovereigns created by euro level support mechanisms.
The Political Economy Of European Banking Union
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Author : David J. Howarth
language : en
Publisher:
Release Date : 2016
The Political Economy Of European Banking Union written by David J. Howarth and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Banking law categories.
The establishment of banking union represents a major development in European economic governance and European integration history more generally. This book is informed by two main empirical questions: 'Why banking union?' and 'Why this specific form of banking union?'
The Difficult Construction Of European Banking Union
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Author : David Howarth
language : en
Publisher: Routledge
Release Date : 2024-06-24
The Difficult Construction Of European Banking Union written by David Howarth and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-06-24 with Business & Economics categories.
The Difficult Construction of European Banking Union examines the political, legal and economic issues surrounding the lacunae and design faults of European Banking Union and its problematic operation. The volume brings together the work of sixteen scholars focused on the diverse debates surrounding the construction and operation of Banking Union (BU), and its necessary reform. BU represents one of the most important developments in European integration since the launch of Monetary Union. Furthermore, the design of the BU agreed between 2012 and 2014 was a messy compromise among EU member states. It is not surprising then that BU has sparked a lively academic debate and triggered an ever-growing number of publications from different disciplinary backgrounds. The first wave of academic work on BU focuses upon the economic rationale underpinning the supranationalisation of control over banking -- regulation, supervision, support and resolution -- and the political dynamics and legal issues that shaped the design of the Union agreed. This volume is located at the intersection of this first phase of academic research and a second stage which analyses the functioning of the different elements of BU. New research questions are triggered by the albeit limited empirical evidence on BU's implementation and operation. Contributions to this second wave of research attempt to identify potentially dangerous lacunae and contribute to on-going reform debates. The Difficult Construction of European Banking Union will be of great interest to scholars of the European Union, Banking, Economic Governance, and Political Economy. Most of the chapters were originally published as three special issues in the Journal of Economic Policy Reform.
Banking On Markets
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Author : Rachel A. Epstein
language : en
Publisher: Oxford University Press
Release Date : 2017-08-15
Banking On Markets written by Rachel A. Epstein and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-15 with Political Science categories.
States and banks have traditionally maintained close ties. At various points in time, states have used banks to manage their economies and soak up government debt, while banks enjoyed regulatory forbearance, restricted competition, and implicit or explicit guarantees from their home markets. The political foundations of banks have thus been powerful and enduring, with actors on both sides of the aisle reluctant to sever relations. The central argument of this book, however, is that in the world's largest integrated market, Europe, the traditional political ties between states and banks have been transformed. Specifically, through a combination of post-communist transition, monetary union, and economic crisis, states in Europe no longer wield preponderant influence over their banks. Banking on Markets explains why we have witnessed the radical denationalization of this politically vital sector, as well as the consequences for economic volatility and policy autonomy. The findings in Europe have implications for other world regions, which, to varying degrees, have also experienced intensified pressure on their traditional models of domestic political control over finance. Through an investigation of foreign bank behavior in economic crises, the developmental consequences of political control over banks and the emergence of European Banking Union in the Eurozone, the book advances three main findings. First is that foreign bank ownership need not necessarily lead to economic vulnerability of host states. Second is that marketized bank-state ties do, however, limit pathways to catching up in the global economy. And third is that European Banking Union has strengthened the euro's credibility while cutting down substantially on Eurozone member states' economic policy discretion. This book details the intense political struggles that have underpinned all three outcomes. Co-Winner of the 2018 Ed A Hewett Book Prize awarded by the Association for Slavic, East European, and Eurasian Studies.
European Political Economy Theoretical Approaches And Policy Issues
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Author :
language : en
Publisher: Oxford University Press
Release Date : 2023-12-22
European Political Economy Theoretical Approaches And Policy Issues written by and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-22 with categories.
Power Politics Banking Union And Emu
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Author : Shawn Donnelly
language : en
Publisher: Routledge
Release Date : 2018-03-28
Power Politics Banking Union And Emu written by Shawn Donnelly and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-28 with Political Science categories.
This book examines the politics of Banking Union and EMU reform in the EU, and draws lessons for what it means for international politics, both in Europe, and for international relations more broadly. It demonstrates that most of the reforms in Europe to break free of the Eurozone and banking crises in which Europe continues to find itself focus on building up the capacities of national authorities rather than European ones. The result is that national authorities remain largely in control of the decisions and funds that are to be deployed to prevent economic disaster if a single EU bank fails. The likely outcome is an accelerated balkanization of the European market for the foreseeable future. The book also contends that power politics, and realism in particular, is a defining feature of European politics with coercion and enforced national responsibility at the demand of Germany; the dominant form of institution-building that established the responsible sovereignty model, and shut down the possibility of alternatives. In making this case, the book demonstrates that the dominant view in international relations, that power politics best explains the behaviour of states, also apply to the EU. This text will be of key interest to scholars and students of the Eurozone crisis, EU politics, economic policy, and more broadly to political economy, public policy and international relations.
The Choice For Banking Union
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Author : Elena Ríos Camacho
language : en
Publisher: Routledge
Release Date : 2021-12-30
The Choice For Banking Union written by Elena Ríos Camacho and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-30 with Political Science categories.
This book explains why the European Union (EU) Member States – in response to the euro crisis – agreed to establish banking union, despite previous objections, and why they chose its hybrid institutional design. Analysing its establishment from 2012 to 2020, the book offers a comprehensive view of the preferences of the Member States and EU institutions, as well as of the negotiation dynamics and latest developments in the three pillars of banking union, namely, the Single Supervisory Mechanism, the Single Resolution Mechanism and the common backstop, and the European deposit insurance scheme. Furthermore, empirically, the book looks beyond the usual focus of the northern and southern coalition of states to underline the influence of powerful smaller Member States in the intergovernmental bargaining process. Adopting a range of theoretical perspectives, it questions the solidity of the northern versus southern camps and reveals distinctive and particular positioning from individual countries during the process. This book will be of key interest to scholars and students of European financial market regulation, European economic governance, EU institutions, European integration theory and EU politics more broadly.
The Future Of The Euro
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Author : Matthias Matthijs
language : en
Publisher: Oxford University Press
Release Date : 2015-03-03
The Future Of The Euro written by Matthias Matthijs and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-03 with Political Science categories.
In The Future of the Euro, a group of the world's top political economists analyze the fundamental causes of the euro crisis, determine how it can be fixed, and consider what likely futures lie ahead for the currency. The book makes three interrelated arguments emphasizing the primacy of political over economic factors. First, the original plan for the euro focused on monetary union, but omitted a financial and banking union, mutually supporting institutions of fiscal union and economic government, and a legitimate political union. Second, the euro's unfinished design led to economic divergence-quietly altering the existing distribution of economic and political power within Europe prior to the crisis-which in turn determined the EU's crisis response. The book highlights how the euro's four most important member states-Germany, France, Italy and Spain-each changed once they adopted the euro, why the crisis affected them so differently, and how each has since struggled to live with the commitments the euro necessitates. Third, the book examines three possible "euro futures" through the lens of the politics of its reluctant leader Germany; through the lens of the EU's capacity to move forward through crises; and through the geopolitical lens of the international monetary system. Any successful long-term solution to the euro's predicament will need to start with the political foundations of markets.
Political Economy Of Financial Integration In Europe
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Author : Jonathan Story
language : en
Publisher: Manchester University Press
Release Date : 1997
Political Economy Of Financial Integration In Europe written by Jonathan Story and has been published by Manchester University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with European Union countries categories.
This volume traces the political, financial and economic steps towards financial union in Europe, focusing on the political economy of the process - notably the dynamics of a Europe of sovereign states.
The Reinvention Of Development Banking In The European Union
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Author : Daniel Mertens
language : en
Publisher: Oxford University Press, USA
Release Date : 2021-02-09
The Reinvention Of Development Banking In The European Union written by Daniel Mertens and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-09 with Business & Economics categories.
National development banks (NDBs) have transformed from outdated relics of national industrial policy to central pillars of the European Union's economic project. This book explores why the EU has supported an increased role for NDBs, and how we might understand the dynamics between NDBs and European incentives and constraints.