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The Process towards the Centralisation of the European Financial Supervisory Architecture: The Case of the Banking Union

PSL Quarterly Review

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Title The Process towards the Centralisation of the European Financial Supervisory Architecture: The Case of the Banking Union
 
Creator Montanaro, Elisabetta; Department of Business and Law, University of Siena
 
Subject EU financial supervision; banking union; non-euro countries; CEE countries; cross-border banking
F35; F65; G01; G28
 
Description The evolution of the EU supervisory architecture has demonstrated that it took the risk of a euro break-up to just barely overcome the political resistances to centralisation by Member States and their supervisors. In the two-tier Europe that is emerging after the euro crisis, the integrity of the single market seems today crucially interlinked with the success of the banking union and its attractiveness for non-euro countries. The banking union’s design, without a credible common fiscal backstop, remains however a partial solution to the financial stability issues arising from the fragmentation of the EU financial market in the event of banking crises. The analysis performed on non-euro countries’ assessments of the pros and cons of joining the banking union aims to show that until fiscal responsibility for financial stability remains at the national level, regulatory centralisation cannot sever the traditional divide between home and host supervisors.
 
Publisher Economia civile
 
Contributor —
 
Date 2016-07-18
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/13696
10.13133/2037-3643_69.277_2
 
Source PSL Quarterly Review; Vol 69, No 277 (2016): June; 135-172
PSL Quarterly Review; Vol 69, No 277 (2016): June; 135-172
2037-3643
ISSN 2037-3635
 
Language eng
 
Relation http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/13696/13481
 
Rights Copyright (c) 2016 Elisabetta Montanaro
http://creativecommons.org/licenses/by-nc-nd/4.0