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oapen-20.500.12657-873802024-03-28T14:03:11Z Power Politics, Banking Union and EMU Donnelly, Shawn German Government European Systemic Risk Board Public Backstop EU Law Responsible Sovereignty EU Institution National Resolution Authorities Resolution Authorities EU Treaty EU Member State Single Supervisory Mechanism European Economic Governance Enforcement Pyramid Liberal Intergovernmentalism Single Resolution Mechanism ESM Treaty Basel Iii EU Bank National Resolution European Banking Authority Resolution Fund Basel Iii Rule AQR DGS European Semester thema EDItEUR::J Society and Social Sciences::JP Politics and government thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy This book examines the politics of Banking Union and EMU reform in the EU, and draws lessons for what it means for international politics, both in Europe, and for international relations more broadly. It demonstrates that most of the reforms in Europe to break free of the Eurozone and banking crises in which Europe continues to find itself focus on building up the capacities of national authorities rather than European ones. The result is that national authorities remain largely in control of the decisions and funds that are to be deployed to prevent economic disaster if a single EU bank fails. The likely outcome is an accelerated balkanization of the European market for the foreseeable future. The book also contends that power politics, and realism in particular, is a defining feature of European politics with coercion and enforced national responsibility at the demand of Germany; the dominant form of institution-building that established the responsible sovereignty model, and shut down the possibility of alternatives. In making this case, the book demonstrates that the dominant view in international relations, that power politics best explains the behaviour of states, also apply to the EU. This text will be of key interest to scholars and students of the Eurozone crisis, EU politics, economic policy, and more broadly to political economy, public policy and international relations. 2024-01-30T15:54:27Z 2024-01-30T15:54:27Z 2018 book ONIX_20240130_9781351332583_7 9781351332583 9781138572300 9781351332576 9781351332569 9780203702130 9780367591717 https://library.oapen.org/handle/20.500.12657/87380 eng Routledge/UACES Contemporary European Studies application/pdf Attribution-NonCommercial-NoDerivatives 4.0 International 9781351332583.pdf https://www.taylorfrancis.com/books/9780203702130 Taylor & Francis Routledge 10.4324/9780203702130 10.4324/9780203702130 7b3c7b10-5b1e-40b3-860e-c6dd5197f0bb 20d6ac69-3dd7-44a6-9a7d-7c6dc58647f1 9781351332583 9781138572300 9781351332576 9781351332569 9780203702130 9780367591717 Routledge 208 Oxford [...] University of Twente Universiteit Twente open access
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This book examines the politics of Banking Union and EMU reform in the EU, and draws lessons for what it means for international politics, both in Europe, and for international relations more broadly. It demonstrates that most of the reforms in Europe to break free of the Eurozone and banking crises in which Europe continues to find itself focus on building up the capacities of national authorities rather than European ones. The result is that national authorities remain largely in control of the decisions and funds that are to be deployed to prevent economic disaster if a single EU bank fails. The likely outcome is an accelerated balkanization of the European market for the foreseeable future. The book also contends that power politics, and realism in particular, is a defining feature of European politics with coercion and enforced national responsibility at the demand of Germany; the dominant form of institution-building that established the responsible sovereignty model, and shut down the possibility of alternatives. In making this case, the book demonstrates that the dominant view in international relations, that power politics best explains the behaviour of states, also apply to the EU. This text will be of key interest to scholars and students of the Eurozone crisis, EU politics, economic policy, and more broadly to political economy, public policy and international relations.
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