Governing Financial Services in the European Union
The global financial crisis that reached its peak in late 2008 has brought the importance of financial services regulation and supervision into the spotlight.
This book examines the governance of financial services in the EU and explains where the power lies in the policy-making process. It covers the main financial services banking, securities, payments systems, clearing and settlement. Addressing the politics and public policy aspects of financial market integration, regulation and supervision, it conducts a theoretically informed and empirically grounded analysis of financial services governance from the establishment of Economic and Monetary Union and the launch of the Financial Services Action Plan in 1999 to the present day. It also assesses the EU responses to the global financial crisis.
Providing a reliable and unique insight into the politics of financial services regulation in the EU based on an extensive programme of interviews with policy-makers and stakeholders across Europe, the book will be of great topical interest to students and scholars of European Union studies, political science and political economy.
Lucia Quaglia is Senior Lecturer in Contemporary European Studies at the University of Sussex, UK. She is the author of Central Banking Governance in the European Union: A comparative analysis (also published by Routledge).
Routledge/UACES Contemporary European Studies
Edited by Tanja Brzel, Free University of Berlin,
Michelle Cini, University of Bristol, and
Roger Scully, University of Wales, Aberystwyth,
on behalf of the University Association for Contemporary European Studies
Editorial Board: Grainne De Brca, European University Institute and Columbia University; Andreas Fllesdal, Norwegian Centre for Human Rights, University of Oslo; Peter Holmes, University of Sussex; Liesbet Hooghe, University of North Carolina at Chapel Hill and Vrije Universiteit, Amsterdam; David Phinnemore, Queens University Belfast; Mark Pollack, Temple University; Ben Rosamond, University of Warwick; Vivien Ann Schmidt, University of Boston; Jo Shaw, University of Edinburgh; Mike Smith, University of Loughborough; and Loukas Tsoukalis, ELIAMEP, University of Athens and European University Institute
The primary objective of the new Contemporary European Studies series is to provide a research outlet for scholars of European Studies from all disciplines. The series publishes important scholarly works and aims to forge for itself an international reputation.
1 The EU and Conflict Resolution
Promoting peace in the backyard
Nathalie Tocci
2 Central Banking Governance in the European Union
A comparative analysis
Lucia Quaglia
3 New Security Issues in Northern Europe
The Nordic and Baltic states and the ESDP
Edited by Clive Archer
4 The European Union and International Development
The politics of foreign aid
Maurizio Carbone
5 The End of European Integration
Anti-Europeanism examined
Paul Taylor
6 The European Union and the Asia-Pacific
Media, public and elite perceptions of the EU
Edited by Natalia Chaban and Martin Holland
7 The History of the European Union
Origins of a trans- and supranational polity 195072
Edited by Wolfram Kaiser, Brigitte Leucht and Morten Rasmussen
8 International Actors, Democratization and the Rule of Law
Anchoring democracy?
Edited by Amichai Magen and Leonardo Morlino
9 Minority Nationalist Parties and European Integration
A comparative study
Anwen Elias
10 European Union Intergovernmental Conferences
Domestic preference formation, transgovernmental networks and the dynamics of compromise
Paul W. Thurner and Franz Urban Pappi
11 The Political Economy of StateBusiness Relations in Europe
Interest mediation, capitalism and EU policy making
Rainer Eising
12 Governing Financial Services in the European Union
Banking, securities and post-trading
Lucia Quaglia
First published 2010
by Routledge
2 Park Square, Milton Park, Abingdon, Oxon, OX14 4RN
Simultaneously published in the USA and Canada
by Routledge
270 Madison Avenue, New York, NY 10016
Routledge is an imprint of the Taylor & Francis Group, an informa business
This edition published in the Taylor & Francis e-Library, 2010.
To purchase your own copy of this or any of Taylor & Francis or Routledges collection of thousands of eBooks please go to www.eBookstore.tandf.co.uk.
2010 Lucia Quaglia
All rights reserved. No part of this book may be reprinted or
reproduced or utilised in any form or by any electronic,
mechanical, or other means, now known or hereafter
invented, including photocopying and recording, or in any
information storage or retrieval system, without permission in
writing from the publishers.
British Library Cataloguing in Publication Data
A catalogue record for this book is available from the British Library
Library of Congress Cataloging in Publication Data
Quaglia, Lucia, 1973
Governing financial services in the European Union: banking, securities,
and post-trading/Lucia Quaglia.
p. cm.(Routledge/UACES contemporary european studies)
Includes bibliographical references and index.
1. Financial services industryEuropean Union countries. 2. Banks and
bankingEuropean Union countries. 3. Corporate governanceEuropean
Union countries. I. European Union. II. Title.
HG186.A2Q34 2010
332.1094dc22 2009037932
ISBN 0-203-85552-3 Master e-book ISBN
ISBN10: 0415564182 (hbk)
ISBN10: 0203855523 (ebk)
ISBN13: 9780415564182 (hbk)
ISBN13: 9780203855522 (ebk)