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The Political Economy of Banking Union

In June 2012, the European Council and euro area summit agreed to deepen Economic and Monetary Union (EMU) by creating ‘Banking Union’ (BU), which was to be based on five components: a single rulebook on bank capital and liquidity; a common deposit guarantee scheme; a single framework for banking supervision; a single framework for the managed resolution of banks; and a common backstop for temporary financial support. BU will bring about a significant transfer of powers from the national to the European Union (EU) (to be precise, the BU) level. Hence, it represents a major development in European economic governance and European integration history more generally. This joint project by Professor David Howarth (University of Luxembourg) and Professor Lucia Quaglia (University of York) investigates the political economy of BU. It sets out to explain the timing and design of BU, as well as its implications for the member states that will join it and those that will not do so.

Prof Lucia Quaglia has been awarded and INTER mobility fellowship from Fonds National de la Recherche (Luxembourg) to pursue this project.

Research Starts: 01/09/2014

Research Ends: 31/08/2015