Banking union in historical perspective: the initiative of the European Commission in the 1960s-1970s

Mourlon-Druol, E. (2016) Banking union in historical perspective: the initiative of the European Commission in the 1960s-1970s. Journal of Common Market Studies, 54(4), pp. 913-927. (doi: 10.1111/jcms.12348)

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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.

Item Type:Articles
Glasgow Author(s) Enlighten ID:Mourlon-Druol, Professor Emmanuel
Authors: Mourlon-Druol, E.
College/School:College of Social Sciences > Adam Smith Business School > Management
Journal Name:Journal of Common Market Studies
ISSN (Online):1468-5965
Published Online:27 January 2016
Copyright Holders:Copyright © 2016 The Author
First Published:First published in Journal of Common Market Studies 54(4): 913-927
Publisher Policy:Reproduced under a Creative Commons License

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Project CodeAward NoProject NamePrincipal InvestigatorFunder's NameFunder RefLead Dept
524121The development of international financial regulation and supervision 1961-1982Catherine SchenkEconomic & Social Research Council (ESRC)ES/H026029/1SPS - ECONOMIC & SOCIAL HISTORY