From gentlemanly capitalism to lobbying capitalism: the city and the EEC, 1972-1992

Drach, A. (2020) From gentlemanly capitalism to lobbying capitalism: the city and the EEC, 1972-1992. Financial History Review, 27(Spec 3), pp. 376-396. (doi: 10.1017/S0968565020000207)

Abstract

The City of London has long attracted much academic and popular attention. However, little research has been done on the relationship between the City and the European Economic Community in the 1970s and 1980s, despite the accession of the United Kingdom in 1973. Based on archival material from central and commercial banks in the UK and France, this article explores the relationship between the City and the EEC, from the accession of the UK to the EEC in 1973 to the Maastricht Treaty in 1992, which was meant to be the year of the completion of the single financial market. The article explores two areas: the influence of the City on EEC financial regulation, and how this influence was exerted. It pays particular attention to two committees chaired by the Bank of England, the City Liaison Committee and the City EEC Liaison Committee, and to British banks. The article argues that if the EEC played a part in the formalisation of British banking regulation, the City also played a key role in shaping EEC plans for financial regulation.

• 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: Financial History Review
• Publisher: Cambridge University Press
• ISSN: 0968-5650
• ISSN (Online): 1474-0052
• Published Online: 10 November 2020
• Copyright Holders: Copyright © 2020 European Association for Banking and Financial History e.V.
• First Published: First published in Financial History Review 27(Special Issue 3): 376-396
• Publisher Policy: Reproduced in accordance with the publisher copyright policy

Project Code	Award No	Project Name	Principal Investigator	Funder's Name	Funder Ref	Lead Dept
173755		EURECON	Emmanuel Mourlon-Druol	European Research Council (ERC)	716849	BS - Management