This is the first book to offer a profound, practical analysis of the framework for the judicial and pre-judicial protection of rights under the supranational banking supervision and resolution powers in the European Banking Union (EBU). It is also unique in its in-depth commentary on the developing case law from the European Court of Justice in this new field of EU litigation.
The development of EU enlargement has raised many thorny issues unanticipated by the framers of the EC Treaty. A significant upshot of these issues is that the concept of European identity - defined in terms of such factors as culture, history and economics - has supplanted the long-dominant theme of 'widening and deepening, ' particularly since the Union's expansion has become primarily eastward. The major contribution of this important book lies in its analysis of the conceptualization and perception of enlargement from various points of view, focusing on the concerns of stakeholders and the 'identity' conflicts and uncertainties incurred by enlargement initiatives. In the course of its presentation, it details the actual pre-accession Europeanization process and its complex history. Among the key elements discussed are the following: the conflict between 'widening' and 'deepening' and the effect on EU institutional reform; institutional requirements on candidate countries; pre-accession criteria and negotiations; administrative capacity, judicial capacity, and legal approximation in accession states; capacity of the EU to absorb new Member States; and EC law as part of European identity. Also covered are specific historical details of particular pre-accession negotiations (e.g., Greece, Spain, Portugal, Malta, and Cyprus), the still inconclusive negotiations with Turkey and the Western Balkan states, and political factors involved in the non-accession of Norway, Iceland and Switzerland. Assembling powerful evidence and applying incisive analysis, the author's conclusion shows that, absent further (and major) EU institutional reform, it will be difficult for an enlarging Union to continue to 'deliver the goods.' A watershed in the continuing great debate on the fulfilment of the EC Treaty's determination to foster and promote 'an ever closer union of the peoples of Europe, ' this book will prove invaluable to anybody interested in the European integration project, particularly lawyers, academics, officials and policymakers in the EU Member States.
This book analyzes the causes of five dilemmas that are shaping European integration— populism, migration, the Euro, Brexit, and enlargement. While critical of the responses of European Union actors in handling these crises, the author outlines avenues which might avoid the potential collapse of Europe.
This book draws on critical theory to introduce readers to ways of exploring questions about the EU from a political economy perspective, questions like: -Does the EU help or hinder Europe's 'social models' to face the challenges of globalization? - Does the EU represent a break from Europe's imperial past? - What were the causes of the Eurozone crisis?
The European Union (EU) and the Eurozone became the economic integration example to follow for years. However, the worldwide economic crisis that unfolded in 2007 put the whole economic integration process in question, the European project in jeopardy and the euro under pressure, with serious doubts that it can survive its first crisis. The core argument of this book is twofold. First, it seeks to explain the difficult political, economic and fiscal idiosyncrasies of all member states in order to put the reasons for the economic crisis into a new and clear perspective. Second, it argues that the institutional response put forward to explain this tremendous crisis is flawed and dangerous because it does not solve the main underlying problem: the deep differences among member states on their understanding of economic and financial behavior. This study counters the leading institutional explanation for the economic crisis that has impacted the entire EU. It presents a unique and provocative explanation of why the EU and the Eurozone are still immersed in an economic crisis and will be of key interest to students and scholars of European Politics and Economics.
Written by experts, this long-established and definitive guide to the workings of the European Union provides comprehensive, straightforward and readable coverage of this sometimes misunderstood and complex institution. It explains not only what happens but also why, and analyses the EU's strengths and weaknesses, as well as opportunities for it to be more effective. With the EU's very existence under pressure due to fiscal crises and the eurozone, migration and borders, and Euroscepticism, it specifically outlines: How it works: the institutions, the mechanisms Every area of EU competence from agriculture to workers' rights The effects of the single market and the single currency and the successes and stresses of the eurozone The impact of the enlargement of the EU and the prospects for further enlargement and for closer political integration The EU under strain - the 2008 recession and after 'Britain in or out' Fully updated and revised material with new data, statistics, examples and non-partisan coverage The Routledge Guide to the European Union is well-established as the clearest and most comprehensive guide to how the EU operates. This new edition brings you up to date at a crucial stage in its history at a time when, arguably, it has never been under greater threat, but conversely is perhaps more important than ever.
Banks were allowed to enter securities markets and become universal banks during two periods in the past century - the 1920s and the late 1990s. Both times the ensuing unsustainable booms led to destructive busts - the Great Depression of the early 1930s and the Global Financial Crisis of2007-09. Both times, universal banks made high-risk loans and packaged them into securities that were sold as safe investments to poorly-informed investors. Both times, governments were forced to arrange costly bailouts.Congress passed the Glass-Steagall Act of 1933 in response to the Great Depression. The Act broke up universal banks and established a decentralized financial system composed of three separate and independent sectors: banking, securities, and insurance. That system was stable and successful for overfour decades until the big-bank lobby persuaded regulators to open loopholes in Glass-Steagall during the 1980s and convinced Congress to repeal it in 1999.In Taming the Megabanks, Arthur Wilmarth, Jr. argues that we must separate banks from securities markets again to avoid another devastating financial crisis and ensure that our financial system serves Main Street business firms and consumers instead of Wall Street bankers and speculators. Wilmarth'scomprehensive and detailed analysis of the roles played by universal banks in the two worst financial catastrophes of the past century demonstrates that a new Glass-Steagall Act would make our financial system much more stable and less likely to produce boom-and-bust cycles. And giant universalbanks would no longer dominate our financial system or receive enormous subsidies.Congress did not adopt a new Glass-Steagall Act after the Global Financial Crisis. Instead, Congress passed the Dodd-Frank Act. Dodd-Frank's highly technical reforms tried to make banks safer but left the dangerous universal banking system in place. Universal banks continue to pose unacceptablerisks to financial stability and economic and social welfare. They exert far too much influence over our political and regulatory systems because of their immense size and their undeniable "too-big-to-fail" status.Taming the Megabanks forcefully makes the case for a a new Glass-Steagall Act to break up universal banks. A more decentralized and competitive system of independent banks and securities firms would not only provide better service to Main Street businesses and ordinary consumers but also bringstability to a volatile financial system.
Two leading economists present a new model for sustainable capitalism based on the economics of mutuality. For decades, leaders in the business world have believed that their sole responsibility is to maximize profit for shareholders. But this obsessive focus was a major cause of the abuses that nearly sunk the global economy in 2008. While books like Thomas Piketty’s Capital in the Twenty-First Century have exposed the shortcomings of financial capitalism, Completing Capitalism goes further by describing a well-developed, field-tested alternative. In this analytically rigorous and eminently practical book, Bruno Roche and Jay Jakub offer a more complete form of capitalism, one that delivers superior financial performance precisely because it mobilizes and generates human, social, and natural capital along with financial capital. Offering practical, real-world illustrations, Roche and Jakub describe how their model has been implemented in live business pilots in Africa, Asia, and elsewhere.
This book deals with banking integrations, which are now becoming crucial not only because of the increased number of economic integrations, but also in view of the qualitative improvement of such banking integrations. It compares the European Union (EU), as the most successful union, which was able to move from a common financial market to the prime example of banking integration; the Banking Union; and the Eurasian Economic Union (EAEU) as a relatively young one but with several of the prerequisites for becoming an influential union, and which was established by five countries – the Russian Federation, Kazakhstan, Belarus, Armenia, and the Kyrgyz Republic – in 2015. The key research question is whether the single market in banking services or a banking union is an achievable goal or merely a utopia. In this regard, the book reveals the bottlenecks and obstacles that the EU and EAEU policymakers faced during the difficult process of establishing a single market and banking union. However, along with the problems of banking integration, it identifies many peculiarities of the harmonization of banking legislation among the EU Member States. Recognizing and acknowledging these peculiarities can be very beneficial for young unions and help to guide their integration processes. In particular, the book concludes that evolutionary (not revolutionary) harmonization is required in order for the EAEU to become a full-fledged union.
This book presents the evolution of Italian administrative law in the context of the EU, describing its distinctive features and comparing it with other experiences across Europe. It provides a comprehensive overview of administrative law in Italy, focusing on the main changes occurred over the last few decades.Although the respective chapters generally pursue a legal approach, they also consider the influence of economic, social, cultural and technological factors on the evolution of public administration and administrative law.The book is divided into three parts. The first part addresses general issues (e.g. procedures and organization of public administrations, administrative justice). The second part focuses on more specific topics (e.g. public intervention in the economy, healthcare management, local government). In the third part, the evolution of Italian administrative law is discussed in a comparative perspective.
