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The New IntergovernmentalismStates and Supranational Actors in the Post-Maastricht Era$
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Christopher J. Bickerton, Dermot Hodson, and Uwe Puetter

Print publication date: 2015

Print ISBN-13: 9780198703617

Published to Oxford Scholarship Online: August 2015

DOI: 10.1093/acprof:oso/9780198703617.001.0001

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The New Intergovernmentalism in Financial Regulation and European Banking Union

The New Intergovernmentalism in Financial Regulation and European Banking Union

Chapter:
(p.146) 7 The New Intergovernmentalism in Financial Regulation and European Banking Union
Source:
The New Intergovernmentalism
Author(s):

David Howarth

Lucia Quaglia

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198703617.003.0007

Financial market policy is an area in which the EU has significantly increased the scope of its activities in the post-Maastricht period. This chapter sees policy-making in this domain as a combination of old and new intergovernmentalism. Deliberation between national authorities played a key role both before and after the global financial crisis of 2007–8 but the pursuit of consensus tended to oil the wheels of intergovernmental bargaining along traditional lines. That said, member states remain reluctant to empower the European Commission in this domain even in the context of plans for European Banking Union.

Keywords:   European Union, integration theory, integration paradox, new intergovernmentalism, banking union, financial supervision, deliberation

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