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Scrutiny or Complacency? Banking Union in the Bundestag and the Assemblée Nationale
[journal article]
Abstract
The financial and eurozone crises highlighted the inadequacy of the original governance structures of the eurozone. In response, a range of reforms were launched, including the creation of a European banking union. In practice, some elements of the banking union were delayed by division among member... view more
The financial and eurozone crises highlighted the inadequacy of the original governance structures of the eurozone. In response, a range of reforms were launched, including the creation of a European banking union. In practice, some elements of the banking union were delayed by division among member states and the breakdown of the Franco-German motor, such as the question of the operationalization of the single resolution mechanism and fund or the deposit insurance scheme. In addition, eurozone governance - which would once have been regarded as a technocratic issue - became increasingly politicized. The aim of this article is to study the extent to which the banking union was scrutinized by parliament and to what degree this reflects material interests and ideas. For this purpose, it focuses on salience (i.e., how much attention the issue received) and polarization (i.e., the divergence of positions). The analysis of the resolutions and debates of the German Bundestag and French Assemblée Nationale, i.e., the parliaments of two key states in EU decision-making on banking union, finds that the German government was indeed closely scrutinized, whereas the French government was relatively unconstrained.... view less
Keywords
EU; France; Germany; fiscal policy; banking; monetary policy; finance; European Policy
Classification
Financial Planning, Accountancy
European Politics
Free Keywords
European deposit insurance scheme; France; Germany; banking union; parliament; single resolution fund; single resolution mechanism; single supervisory mechanism
Document language
English
Publication Year
2021
Page/Pages
p. 219-229
Journal
Politics and Governance, 9 (2021) 2
Issue topic
Reforming the Institutions of Eurozone Governance
ISSN
2183-2463
Status
Published Version; peer reviewed