IDEAS home Printed from https://ideas.repec.org/a/bla/jcmkts/v62y2024i4p1046-1062.html
   My bibliography  Save this article

The Geoeconomics of the Single Market for Financial Services

Author

Listed:
  • Lucia Quaglia
  • Amy Verdun

Abstract

We discuss the geoeconomics of the Single Market in financial services in the European Union (EU). We examine three case studies that concern the EU and other major jurisdictions and that range from incipient geoeconomic use to outward weaponisation of the Single Market in finance. These cases are (1) the post‐2008 crisis transatlantic tug of war, whereby the EU leveraged its Single Market vis‐à‐vis the United States, seeking to set the rules for global finance; (2) the Brexit negotiations, when the EU acted as a bloc against the United Kingdom and successfully safeguarded the integrity of the Single Market; and (3) the fulsome war in Ukraine, during which the EU ‘weaponised’ its Single Market through the adoption of financial sanctions against Russia. We argue that a combination of external and internal factors accounts for this pattern: the evolution of the international economic and political system, in particular, the increasing challenges to the liberal international order, and intra‐EU developments, namely, the EU's ability to deploy its Single Market geoeconomically.

Suggested Citation

  • Lucia Quaglia & Amy Verdun, 2024. "The Geoeconomics of the Single Market for Financial Services," Journal of Common Market Studies, Wiley Blackwell, vol. 62(4), pages 1046-1062, July.
    • Handle: RePEc:bla:jcmkts:v:62:y:2024:i:4:p:1046-1062
    DOI: 10.1111/jcms.13595
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/jcms.13595
    Download Restriction: no
    File URL: https://libkey.io/10.1111/jcms.13595?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jcmkts:v:62:y:2024:i:4:p:1046-1062. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0021-9886 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.