Reluctant Europeans? British and French commercial banks and the common market in banking (1977-1992)

Drach, A. (2020) Reluctant Europeans? British and French commercial banks and the common market in banking (1977-1992). Enterprise and Society, 21(3), pp. 768-798. (doi: 10.1017/eso.2020.20)

Abstract

More than ten years after the financial crisis, the challenges of European banking and of the eurozone highlight that the existence of a European common market in banking is at best partial. Examining how British and French commercial banks and banking associations responded to the plans for a European common market in banking between 1977 and 1992, this article contributes to explaining this partial character, and highlights that this project was primarily political. This challenges the widely held view that large companies tended to push for more integration. This article shows that until the mid-1980s, the banking sector was not necessarily calling for European financial integration in the form of a common market in banking for at least three reasons: they doubted the usefulness of such a move, they feared an increase in regulation, and I meant that banks focused more on domestic or global matters than on European ones.

• Item Type: Articles
• Status: Published
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: Drach, Dr Alexis
• Authors: Drach, A.
• College/School: College of Social Sciences > Adam Smith Business School > Management
• Journal Name: Enterprise and Society
• Publisher: Cambridge University Press
• ISSN: 1467-2227
• ISSN (Online): 1467-2235
• Published Online: 27 July 2020
• Copyright Holders: Copyright © 2020 The Authors
• First Published: First published in Enterprise and Society 21(3): 768-798
• Publisher Policy: Reproduced under a Creative Commons license

Project Code	Award No	Project Name	Principal Investigator	Funder's Name	Funder Ref	Lead Dept
173755		EURECON	Emmanuel Mourlon-Druol	European Research Council (ERC)	Mourlon-Druol, Dr Emmanue	BS - Management