Work

Banking Union in Historical Perspective: The Initiative of the European Commission in the 1960s–1970s

Year: 2016

Type: article

Abstract: This article shows that planning for the organization of EU banking regulation and supervision did not just appear on the agenda in recent years with discussions over the creation of the eurozone banking union. It unveils a hitherto neglected initiative of the European Commission in the 1960s and early 1970s. Drawing on extensive archival work, this article explains that this initiative, however, rested on a number of different assumptions, and emerged in a much different context. It first explains that the Commission's initial project was not crisis‐driven; that it articulated the link between monetary integration and banking regulation; and finally that it did not set out to move the supervisory framework to the supranational level, unlike present‐day developments.

Source: JCMS Journal of Common Market Studies

DOI: 10.1111/jcms.12348

Author: Emmanuel Mourlon‐Druol

Institution: University of Glasgow

Language: English

Topic: Global Financial Regulation and Crises

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: hybrid

Estimated APC paid: $4,170

Funder: Economic and Social Research Council