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Negotiating the Banking Union - A trade - off between Germany and France? - Policy Choice Patterns between two Integration Projects

Vant, Andrada Ioana (2014) Negotiating the Banking Union - A trade - off between Germany and France? - Policy Choice Patterns between two Integration Projects.

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Abstract:In the area of economic and fiscal governance the surrender of national sovereignty has been greater than ever before and mostly dominated by the growing trend of cross-border tasks. Up until 2008, member states were responsible for the policy making and the European Union had few legally binding tools. The previously established SGP and later on, its complementary, the Macroeconomic Imbalances Procedure, weren´t enough to discipline the financial systems. When the financial crisis of 2008/2009 and afterwards the recession hit the European markets, both banks and governments felt a heavy financial pressure.From what we could see during the adoption of the common currency the Member States are rather sceptical when faced with the decision of giving up their sovereignty to a supranational body in a core area. We can therefore suppose the same reluctance with the project of the Banking Union, as states would have to give supervisory authority and crisis management powers to an EU level institution. Liberal Intergovernmentalism and Neo-functionalism theories are able to access which indicators have to be taken into consideration in the assessment of what or who are the promoters or opponents of integration processes in order to be able to provide an accurate explanation for the decision making process.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:83 economics, 89 political science
Programme:European Studies MSc (69303)
Link to this item:http://purl.utwente.nl/essays/64946
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