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Germany and France at cross purposes: the case of Banking Union

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  • Joachim Schild

Abstract

In the past, France and Germany were able to exercise leadership in history-making decisions in monetary cooperation, from the establishment of the EMS to EMU. In the case of Banking Union (BU), however, Germany and France turned out to be the main opponents with little common influence. Why could we not observe the familiar pattern of Franco-German co-leadership in building the BU? My explanation points to diverging views on the social purpose of a BU, the asymmetrical distribution of its costs and benefits for the two countries, highly prominent distributional conflicts and severe domestic constraints in Germany. These explanatory factors also account for the unfinished character of Banking Union.

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  • Joachim Schild, 2018. "Germany and France at cross purposes: the case of Banking Union," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 21(2), pages 102-117, April.
    • Handle: RePEc:taf:jecprf:v:21:y:2018:i:2:p:102-117
    DOI: 10.1080/17487870.2017.1396900
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    Cited by:

    1. Eckert, Sandra, 2020. "EU agencies in banking and energy between institutional and policy centralisation," SAFE Working Paper Series 278, Leibniz Institute for Financial Research SAFE.
    2. Anna-Lena Högenauer, 2021. "Scrutiny or Complacency? Banking Union in the Bundestag and the Assemblée Nationale," Politics and Governance, Cogitatio Press, vol. 9(2), pages 219-229.
    3. Lindner, Vincent & Eckert, Sandra & Nölke, Andreas, 2022. "Political science research on the reasons for the (non) adoption and (non) implementation of EMU reform proposals: The state of the art," SAFE Working Paper Series 339, Leibniz Institute for Financial Research SAFE.
    4. Ioannis Asimakopoulos & David Howarth, 2022. "Stillborn Banking Union: Explaining Ineffective European Union Bank Resolution Rules," Journal of Common Market Studies, Wiley Blackwell, vol. 60(2), pages 264-282, March.

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