The Resource The legal history of the European banking union (1973-2018) : how European law drove the integration of the single financial market from its expansion and crisis to the banking union, Pedro Gustavo Teixeira

The legal history of the European banking union (1973-2018) : how European law drove the integration of the single financial market from its expansion and crisis to the banking union, Pedro Gustavo Teixeira

Label
The legal history of the European banking union (1973-2018) : how European law drove the integration of the single financial market from its expansion and crisis to the banking union
Title
The legal history of the European banking union (1973-2018)
Title remainder
how European law drove the integration of the single financial market from its expansion and crisis to the banking union
Statement of responsibility
Pedro Gustavo Teixeira
Creator
Contributor
Subject
Language
eng
Summary
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
Cataloging source
FIE
http://library.link/vocab/creatorName
Teixeira, Pedro Gustavo
Date time place
Defence date: 29 November 2019
Dissertation note
Thesis (Ph. D.)--European University Institute (LAW, 2019)
Index
no index present
Literary form
non fiction
Nature of contents
theses
http://library.link/vocab/relatedWorkOrContributorName
European University Institute
Series statement
  • EUI PhD theses.
  • EUI theses
http://library.link/vocab/subjectName
  • Banking law
  • Banks and banking
  • Banks and banking
Label
The legal history of the European banking union (1973-2018) : how European law drove the integration of the single financial market from its expansion and crisis to the banking union, Pedro Gustavo Teixeira
Link
http://hdl.handle.net/1814/65305
Instantiates
Publication
Note
Examining Board: Professor Karl-Heinz Ladeur, Universität Hamburg; Professor Giorgio Monti, European University Institute; Professor Luís Silva Morais, Universidade de Lisboa; Professor René Smits, Universiteit van Amsterdam
Bibliography note
Includes bibliographical references (pages 405-424)
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
FIE
Dimensions
30 cm.
Extent
434 pages
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
System control number
(OCoLC)1135588561
Label
The legal history of the European banking union (1973-2018) : how European law drove the integration of the single financial market from its expansion and crisis to the banking union, Pedro Gustavo Teixeira
Link
http://hdl.handle.net/1814/65305
Publication
Note
Examining Board: Professor Karl-Heinz Ladeur, Universität Hamburg; Professor Giorgio Monti, European University Institute; Professor Luís Silva Morais, Universidade de Lisboa; Professor René Smits, Universiteit van Amsterdam
Bibliography note
Includes bibliographical references (pages 405-424)
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
FIE
Dimensions
30 cm.
Extent
434 pages
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
System control number
(OCoLC)1135588561

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