The Legal History of the European Banking Union PDF Download

Author: Pedro Gustavo Teixeira
Publisher: Bloomsbury Publishing
ISBN: 1509940634
Category : Law
Languages : en
Pages : 288

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Book Description
How was the Banking Union, the most advanced legal and institutional integration in the single market, created? How does European law impact European integration? To answer these questions, this book provides a sweeping account of the evolution of European law. It identifies five integration periods of the single financial market, intertwined with the development of global finance, from its origins, through its expansion and crisis, to the Banking Union. Each period is defined by innovations to deepen integration, such as the single passport for financial services, soft governance and comitology, agencies, or a single rulebook. Providing a far-reaching explanation of the legal and institutional rationality of the European Banking Union, this book demonstrates that the Banking Union is not an accident of history or simply the product of the existential crisis of the Monetary Union. It has deep roots in the evolutionary process of European law and its drive towards supranational integration.

Author: Pedro Gustavo Teixeira
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 434

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Book Description
This dissertation is driven by two research questions. First, what was the role played by European law and institutions in the evolution of the single financial market? Second, how can such evolution explain the creation of the Banking Union, where national competences were ultimately centralised at European level? In order to answer these questions, the dissertation provides the legal history of the Banking Union, starting with the first steps towards a single financial market in 1973 and ending with the creation of the Banking Union in 2013 and its evolution by 2018. The research into this history led to the identification of five phases of market integration. Each phase is characterized by the introduction of distinct legal and institutional innovations - such as the single passport in financial services - aiming at moving forward the integration of the single financial market. Such innovations were often at the boundaries of what could be achieved under the Treaty, while being politically acceptable to Member States. Therefore, the innovations represented in each historical period the outcome of an equilibrium between the expansion of European competences and the safeguarding of national sovereignty. These equilibria remained, however, unstable, as the increasing market integration was not captured by either limited European competences or constrained national sovereignty. Over time, increasing integration led to a build-up of risks, but without a European stabilisation capacity. The risks materialised with the 2007/2008 financial crisis followed by the sovereign debt crisis of the euro area in 2010. Since risk-sharing was excluded in both the single financial market and the Monetary Union, there was a rapid dis-integration process. The soft governance arrangements failed in preventing and managing the crises. The Banking Union then emerged to prevent dis-integration by centralising executive competences, with many legal and institutional implications for European integration. It stopped, however, short of introducing risk-sharing among Member States, despite the significant distributional effects it is bound to have. Together with concerns about the democratic legitimation of such effects, this is the main challenge to its future.

Author: Pedro Gustavo Teixeira
Publisher: Bloomsbury Publishing
ISBN: 1509940642
Category : Law
Languages : en
Pages : 391

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Book Description
How was the Banking Union, the most advanced legal and institutional integration in the single market, created? How does European law impact European integration? To answer these questions, this book provides a sweeping account of the evolution of European law. It identifies five integration periods of the single financial market, intertwined with the development of global finance, from its origins, through its expansion and crisis, to the Banking Union. Each period is defined by innovations to deepen integration, such as the single passport for financial services, soft governance and comitology, agencies, or a single rulebook. Providing a far-reaching explanation of the legal and institutional rationality of the European Banking Union, this book demonstrates that the Banking Union is not an accident of history or simply the product of the existential crisis of the Monetary Union. It has deep roots in the evolutionary process of European law and its drive towards supranational integration.

Author: Stefan Grundmann
Publisher: Bloomsbury Publishing
ISBN: 1509907564
Category : Law
Languages : en
Pages : 393

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Book Description
In 2012, at the height of the sovereign debt crisis, European decision makers pushed for developing an 'ever closer union' with the formation of a European Banking Union (BU). Although it provoked widespread debate, to date there has been no coherent discussion of the political and constitutional dimensions of the European Banking Union. This important new publication fills this gap. Drawing on the expertise of recognised experts in the field, it explores banking union from legal, economic and political perspectives. It takes a four-part approach. Firstly, it sets the scene by examining the constitutional foundations of banking union. Then in parts 2 and 3, it looks at the implications of banking union for European integration and for democracy. Finally it asks whether banking union might be more usefully regarded as a trade-off between integration and democracy. This is an important, timely and authoritative collection.

Author: Mario P. Chiti
Publisher: Springer
ISBN: 303013475X
Category : Business & Economics
Languages : en
Pages : 434

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Book Description
This handbook analyses the European Banking Union legal framework focusing on legislative acts (regulations and directives), case law and the resolution procedures. In addition, it will pay attention to the division of responsibilities between the ECB and the national authorities, with special attention to the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). To give a more complete picture, the book will also cover the implementation of European Deposit Insurance Scheme (so called third pillar) still under construction, and appeal to academics, researchers and students of banking and financial law.

Author: Gianni Lo Schiavo
Publisher: Edward Elgar Publishing
ISBN: 1788972023
Category : Bailouts (Government policy)
Languages : en
Pages : 320

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Book Description
The European Banking Union and the Role of Law offers a comprehensive and unique examination of the European Banking Union’s (EBU) impact on existing legal disciplines and assesses the role of law in shaping the EBU framework.

Author: Fabian Amtenbrink
Publisher: Oxford University Press, USA
ISBN: 019879374X
Category : Business & Economics
Languages : en
Pages : 1649

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Book Description
An authoritative reference work on the legal framework of European economic and monetary union, this book comprehensively analyses the legal foundations, institutions, and substantive legal issues in EU monetary integration.

Author: Fabian Amtenbrink
Publisher: Oxford University Press
ISBN: 019251248X
Category : Law
Languages : en
Pages : 1808

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Book Description
Presenting a sweeping analysis of the legal foundations, institutions, and substantive legal issues in EU monetary integration, The EU Law of Economic and Monetary Union serves as an authoritative reference on the legal framework of European economic and monetary union. The book opens by setting out the broader contexts for the European project - historical, economic, political, and regarding the international framework. It goes on to examine the constitutional architecture of EMU; the main institutions and their legal powers; the core legal provisions of monetary and economic union; and the relationship of EMU with EU financial market and banking regulation. The concluding section analyses the current EMU crisis and the main avenues of future reform.

Author: Boris Bartels
Publisher: Uitgeverij Larcier
ISBN: 9782804436933
Category : Law
Languages : en
Pages : 416

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Book Description
The initiative to improve the level of integration in banking and financial services law within the European Union, ongoing since the end of the seventies, has been largely successful. About 90% of the national laws regarding financial services are based on European law. The fourth edition of “European Banking and Financial Services Law”, published by the European Association of Public Banks (EAPB) in co-operation with Editions Larcier, is a practical guide to the entire field of EU law in this area. The book approaches the financial subjects thematically. For each of the distinct areas of practice it offers a concise summary and the respective legislative history of the applicable law, pending legislation as well as issues under discussion. A CD Rom enclosed with this book provides the full official versions of all Directives and Regulations published by the European Union in the fields of banking and financial services. The European Association of Public Banks (EAPB) represents the interest of various public banks, funding agencies and associations of public banks throughout Europe, which together represents some 100 public financial institutions. The latter have a combined balance sheet total of about EUR 3.500 billion. The EAPB 's specialised lawyers and economists monitor the European legislation monitor order to provide its member banks with information on EU financial law. Thanks to the co-operation with Editons Larcier, the EAPB's expertise is now at the disposal of a large public.

Author: Alberto Saravalle
Publisher: Edward Elgar Publishing
ISBN: 1800883005
Category : Law
Languages : en
Pages : 232

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Book Description
This incisive book is an accessible guide to the laws and policies relating to economic and monetary union (EMU). Providing a rich, multidisciplinary analysis, it combines historical, legal and economic perspectives to offer a detailed understanding of how EMU has developed since its inception and how it works in practice today. This book will be a valuable reference for those teaching and studying advanced courses on EU law, as well as courses that cover the economic history of EU integration.