Mourlon-Druol, Emmanuel, (2016), “Banking Union in Historical Perspective: The Initiative of the European Commission in the 1960s–1970s”, JCMS Vol. 54, Iss. 4, July
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.
Relevant posts
- Schäfer, David, (2016), “A Banking Union of Ideas? The Impact of Ordoliberalism and the Vicious Circle on the EU Banking Union”, Journal of Common Market Studies, 5 January
- Stanislas de Finance, Risto Nieminen, (2016), “Testing the resilience of banking union”, European Added Value Unit PE 558.778, April