IDEAS home Printed from https://ideas.repec.org/b/oxp/obooks/9780198727927.html
   My bibliography  Save this book

The Political Economy of European Banking Union

Author

Listed:
  • Howarth, David

    (Professor, University of Luxembourg)

  • Quaglia, Lucia

    (Professor, University of York)

Abstract

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.

Suggested Citation

  • Howarth, David & Quaglia, Lucia, 2016. "The Political Economy of European Banking Union," OUP Catalogue, Oxford University Press, number 9780198727927.
    • Handle: RePEc:oxp:obooks:9780198727927
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Braun, Benjamin & Hübner, Marina, 2017. "Fiscal fault, financial fix? Capital Markets Union and the quest for macroeconomic stabilization in the euro area," MPIfG Discussion Paper 17/21, Max Planck Institute for the Study of Societies.
    2. Anna-Lena Högenauer & Moritz Rehm, 2021. "Reforming the Institutions of Eurozone Governance," Politics and Governance, Cogitatio Press, vol. 9(2), pages 159-162.
    3. Moritz Rehm, 2021. "Tug of War over Financial Assistance: Which Way Forward for Eurozone Stability Mechanisms?," Politics and Governance, Cogitatio Press, vol. 9(2), pages 173-184.
    4. 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.
    5. Lucia Quaglia, 2021. "It Takes Two to Tango: The European Union and the International Governance of Securitization in Finance," Journal of Common Market Studies, Wiley Blackwell, vol. 59(6), pages 1364-1380, November.
    6. G. Arghyrou, Michael & Gadea, Maria-Dolores & Kontonikas, Alexandros, 2024. "Private bank deposits and macro/fiscal risk in the euro-area," Journal of International Money and Finance, Elsevier, vol. 140(C).
    7. Lucia Quaglia & David Howarth & Moritz Liebe, 2016. "The Political Economy of European Capital Markets Union," Journal of Common Market Studies, Wiley Blackwell, vol. 54, pages 185-203, September.
    8. Mario Tümmler, 2022. "Completing Banking Union? The Role of National Deposit Guarantee Schemes in Shifting Member States' Preferences on the European Deposit Insurance Scheme," Journal of Common Market Studies, Wiley Blackwell, vol. 60(6), pages 1556-1572, November.
    9. Dóra Piroska & Yuliya Gorelkina & Juliet Johnson, 2021. "Macroprudential Policy on an Uneven Playing Field: Supranational Regulation and Domestic Politics in the EU's Dependent Market Economies," Journal of Common Market Studies, Wiley Blackwell, vol. 59(3), pages 497-517, May.
    10. Clément Fontan Fontan & Emmanuel Carré & Guillaume L'Oeillet, 2018. "Theoretical perspectives on the new era of central banking," Post-Print halshs-01866838, HAL.
    11. Shawn Donnelly & Ioannis G. Asimakopoulos, 2020. "Bending and Breaking the Single Resolution Mechanism: The Case of Italy," Journal of Common Market Studies, Wiley Blackwell, vol. 58(4), pages 856-871, July.
    12. Sébastien Commain, 2021. "‘Don’t Crunch My Credit’: Member State Governments’ Preferences on Bank Capital Requirements," Politics and Governance, Cogitatio Press, vol. 9(2), pages 196-207.
    13. Valerie D'Erman & Amy Verdun, 2022. "An Introduction: “Macroeconomic Policy Coordination and Domestic Politics: Policy Coordination in the EU from the European Semester to the Covid‐19 Crisis”," Journal of Common Market Studies, Wiley Blackwell, vol. 60(1), pages 3-20, January.
    14. David Howarth & Lucia Quaglia, 2017. "Brexit and the Single European Financial Market," Journal of Common Market Studies, Wiley Blackwell, vol. 55, pages 149-164, September.
    15. Schelkle, Waltraud & Bohle, Dorothee, 2020. "European political economy of finance and financialization," LSE Research Online Documents on Economics 105859, London School of Economics and Political Science, LSE Library.
    16. Shawn Donnelly, 2021. "German Politics and Intergovernmental Negotiations on the Eurozone Budget," Politics and Governance, Cogitatio Press, vol. 9(2), pages 230-240.
    17. Guter-Sandu, Andrei & Murau, Steffen, 2022. "The Eurozone’s evolving fiscal ecosystem: mitigating fiscal discipline by governing through off-balance-sheet fiscal agencies," LSE Research Online Documents on Economics 109790, London School of Economics and Political Science, LSE Library.
    18. Lucia Quaglia & Aneta Spendzharova, 2017. "The Conundrum of Solving ‘Too Big to Fail’ in the European Union: Supranationalization at Different Speeds," Journal of Common Market Studies, Wiley Blackwell, vol. 55(5), pages 1110-1126, September.
    19. Geoffrey R. D. Underhill & Erik Jones, 2023. "Optimum financial areas: Retooling the governance of global finance," The World Economy, Wiley Blackwell, vol. 46(6), pages 1582-1608, June.
    20. 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.
    21. Mérő, Katalin, 2019. "Érdemes-e csatlakozniuk az európai bankunióhoz az euróövezeten kívüli tagállamoknak? [Is it worth non-euro member-states joining the European Banking Union?]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 497-520.
    22. Lucia Quaglia & Aneta Spendzharova, 2023. "Explaining the EU’s Uneven Influence Across the International Regime Complex in Shadow Banking," Politics and Governance, Cogitatio Press, vol. 11(2), pages 6-16.
    23. Tümmler, Mario & Thiemann, Matthias, 2020. "Beyond moral hazard arguments: The role of national deposit insurance schemes for member states' preferences on EDIS," SAFE White Paper Series 72, Leibniz Institute for Financial Research SAFE.

    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:oxp:obooks:9780198727927. 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: Economics Book Marketing (email available below). General contact details of provider: http://www.oup.com/ .

    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.