Explaining the sudden creation of a banking supervisor for the euro area

References

• Aspinwall, M.D. and Schneider, G. (2000) ‘Same menu, separate tables: the institutionalist turn in political science and the study of European integration’, European Journal of Political Research 38(1): 1–36.
   Web of Science ®Google Scholar
• Bank for International Settlements (2011) ‘Highlights of the BIS international statistics’, BIS Quarterly Review March 2011.
   Google Scholar
• Baumgartner, F. and Jones, B.D. (1993) Agendas and Instability in American Politics, Chicago, IL: University of Chicago Press.
   Google Scholar
• Begg, I. (2009) ‘Regulation and supervision of financial intermediaries in the EU: the aftermath of the financial crisis’, Journal of Common Market Studies 47(5): 1107–28. doi: 10.1111/j.1468-5965.2009.02037.x
   Web of Science ®Google Scholar
• Carmassi, J., Luchetti, E. and Micossi, S. (2010) ‘Overcoming too-big-too-fail – a regulatory framework to limit moral hazard and free riding in the financial sector’, Report of the CEPS-Assonime Task Force on Bank Crisis Resolution, Brussels: Centre for European Policy Studies.
   Google Scholar
• Christiansen, T. and Jorgensen, K.E. (1999) ‘The Amsterdam process: a structurationist perspective on EU treaty reform’, European Integration online papers (EIoP), 3(1).
   Google Scholar
• Cœuré, B. (2013) ‘Monetary policy and banking supervision’, Speech at the Symposium ‘Central Banking: Where Are We Headed?’ in honour of Stefan Gerlach’s contribution to the Institute for Monetary and Financial Stability, Goethe University, Frankfurt, 7 February.
   Google Scholar
• Council of the European Union (2012) ‘Euro area summit statement, 29 June’, SN 2999/12, Brussels
   Google Scholar
• Darvas, Z. and Wolff, G. (2013) ‘Should non-euro area countries join the single supervisory mechanism?’, DANUBE: Law and Economics Review 4(2): 141–63.
   Google Scholar
• De Rynck, S. (2016) ‘Banking on a union – the politics of changing eurozone banking supervision’, Journal of European Public Policy 23(1): 119–35. doi: 10.1080/13501763.2015.1019551
   Web of Science ®Google Scholar
• Draghi, M. (2013) ‘Address at the new year’s reception of the Frankfurt Chamber of Commerce and Industry’, Frankfurt, 22 January
   Google Scholar
• Epstein, R. and Rhodes, M. (2014) ‘International in life, national in death? Banking nationalism on the road to banking union’, KFG Working Paper Series No. 61, Berlin: Freie Universität Berlin,.
   Google Scholar
• Epstein, R. and Rhodes, M. (2016) ‘The political dynamics behind Europe’s new banking union’, West European Politics 29(3): 415–37. doi: 10.1080/01402382.2016.1143238
   Web of Science ®Google Scholar
• EU Council (2012) ‘Proposal for a Council Regulation conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions – Consolidated text’, 2012/0242 (CNS), 14 December.
   Google Scholar
• Eurogroup (2012), Eurogroup statement on Spain’, 9 June.
   Google Scholar
• European Central Bank (2013) Financial Integration Report 2013, Frankfurt: European Central Bank.
   Google Scholar
• FAZ (2012a), ‘Kleine Institute fürchten Lasten der Bankenunion‘, 13 May.
   Google Scholar
• FAZ (2012b) ‘Der schwierige Weg zu einer Bankenunion’, 5 June.
   Google Scholar
• FAZ (2012c) ‘Montis Morgenstreich’, 11 July
   Google Scholar
• Financial Times Deutschland (2012) ‘Bundesbank fährt EZB in die Parade’, 12 June.
   Google Scholar
• Hall, P. and Taylor, R. (1996) ‘Political science and the three new institutionalisms’, Political studies 44(5): 936–57. doi: 10.1111/j.1467-9248.1996.tb00343.x
   Web of Science ®Google Scholar
• Hellwig, M.F. (2011) ‘Quo Vadis, Euroland? European monetary union between crisis and reform’, MPI Collective Goods Preprint No. 2011/12, Bonn: MPI.
   Google Scholar
• Henessy, A. (2014) ‘Redesigning financial supervision in the European Union (2009–2013)’, Journal of European Public Policy 21(2): 151–68. doi: 10.1080/13501763.2013.853601
   Web of Science ®Google Scholar
• Hertie School of Governance (2015) The Governance Report 2015, Oxford: Oxford University Press.
   Google Scholar
• Howarth, D. and Quaglia, L. (2013) ‘Banking union as holy grail: rebuilding the Single Market in financial services, stabilizing Europe’s banks and “completing” Economic and Monetary Union’, Journal of Common Market Studies 51: 103–23. doi: 10.1111/jcms.12054
   Web of Science ®Google Scholar
• Howarth, D. and Quaglia, L. (2014) ‘The steep road to European banking union: constructing the Single Resolution Mechanism’, Journal of Common Market Studies 52: 125–40. doi: 10.1111/jcms.12178
   Web of Science ®Google Scholar
• Howarth, D. and Quaglia, L. (2016) ‘Internationalised banking, alternative banks and the Single Supervisory Mechanism’, West European Politics 29(3): 438–61. doi: 10.1080/01402382.2016.1143241
   Web of Science ®Google Scholar
• Jones, E. (2015) ‘The forgotten financial union: how you can have a euro crisis without a euro’, in M. Matthijs and M. Blyth (eds), The Future of the Euro, Oxford: Oxford University Press, pp.44–69.
   Google Scholar
• Katznelson, I. and Weingast, B.R. (2005) ‘Intersections between historical and rational choice institutionalism’, in I. Katznelson and B.R. Weingast (eds), Preferences and Situations Points of Intersection Between Historical and Rational Choice Institutionalism, New York: Russell Sage Foundation, pp. 1–26.
   Google Scholar
• Kudrna, Z. (2012) ‘Cross-border resolution of failed banks in the European Union after the crisis: business as usual’, Journal of Common Market Studies 50(2): 283–99. doi: 10.1111/j.1468-5965.2011.02204.x
   Web of Science ®Google Scholar
• Lindner, J. (2003a) ‘Institutional stability and change: two sides of the same coin’, Journal of European Public Policy 10(6): 912–35. doi: 10.1080/1350176032000148360
   Web of Science ®Google Scholar
• Lindner, J. (2003b) Conflict and Change in EU Budgetary Politics, London: Routledge.
   Google Scholar
• Ludlow, P. (2012) ‘Short-term help and long-term conditionality – the European Council of 28–29 June 2012’, EuroComment 4, available at http://www.eurocomment.eu/short-term-help-and-long-term-conditionality/ (accessed 20 July 2012).
   Google Scholar
• Mahoney, J. (2010) ‘Conceptualizing and explaining punctuated versus incremental change’, Paper presented at the 2010 Annual Meeting of the American Political Science Association, Washington, DC, September.
   Google Scholar
• Merkel, A. (2012) ‘Regierungserklärung durch die Bundeskanzlerin zum Europäischen Rat am 28./29. Juni 2012 in Brüssel’ [Intervention before the Bundestag on the EU Summit in Brussels on June 28 and 29, 2012], Deutscher Bundestag Plenarprotokoll Nr.: 17/186 vom 27.06.2012.
   Google Scholar
• Morgan Stanley (2012) ‘Spain searching for a circuit breaker’, 31 May.
   Google Scholar
• Niemann, A. and Ioannou, D. (2015) ‘European economic integration in times of crisis: a case of neofunctionalism?’, Journal of European Public Policy 22(2): 196–218. doi: 10.1080/13501763.2014.994021
   Web of Science ®Google Scholar
• Pierson, P. (2000) ‘Increasing returns, path dependence, and the study of politics’, American Political Science Review 94(2): 251–67. doi: 10.2307/2586011
   Web of Science ®Google Scholar
• Pisani-Ferry, J. (2012) ‘The euro crisis and the new impossible trinity’, Bruegel Policy Contribution Issue 2012/01, Brussels: Brussels European and Global Economic Laboratory (Bruegel AISBL).
   Google Scholar
• Posner, E. and Véron, N. (2010) ‘The EU and financial regulation: power without purpose?’, Journal of European Public Policy 17(3): 400–15. doi: 10.1080/13501761003661950
   Web of Science ®Google Scholar
• Quaglia, L. (2007) ‘The politics of financial services regulation and supervision reform in the European Union’, European Journal of Political Research 46(2): 269–90. doi: 10.1111/j.1475-6765.2006.00695.x
   Web of Science ®Google Scholar
• Quaglia, L. (2010) ‘Completing the single market in financial services: the politics of competing advocacy coalitions’, Journal of European Public Policy 17(7): 1007–23. doi: 10.1080/13501763.2010.499239
   Web of Science ®Google Scholar
• Quaglia, L. (2013) ‘Financial regulation and supervision in the European Union after the crisis’, Journal of Economic Policy Reform 16(1): 17–30. doi: 10.1080/17487870.2012.755790
   Web of Science ®Google Scholar
• RGE (2012) ‘Spain outlook: bailout ahead’, 25 May.
   Google Scholar
• Salines, M., Glöckler, G. and Truchlewski, Z. (2012) ‘Existential crisis, incremental response: the eurozone’s dual institutional evolution 2007–2011’, Journal of European Public Policy 19(5): 665–81. doi: 10.1080/13501763.2011.646777
   Web of Science ®Google Scholar
• Schäfer, D. (2016) ‘A banking union of ideas? The impact of ordoliberalism and the vicious circle of the EU banking union’, Journal of Common Market Studies, doi: 10.1111/jcms.12351.
   Web of Science ®Google Scholar
• Schimmelfennig, F. (2015) ‘Liberal intergovernmentalism and the euro area crisis’, Journal of European Public Policy 22(2): 177–95. doi: 10.1080/13501763.2014.994020
   Web of Science ®Google Scholar
• Schimmelfennig, F. (2016) ‘A differentiated leap forward: spillover, path-dependency, graded membership in European banking regulation’, West European Politics 29(3): 483–502. doi: 10.1080/01402382.2016.1143244
   Web of Science ®Google Scholar
• Schoenmaker, D. (2005) ‘Central banks and financial authorities in Europe: what prospects?’, in D. Masciandaro (ed.), The Handbook of Central Banking and Financial Authorities in Europe, Cheltenham: Edward Elgar, pp. 398–456.
   Google Scholar
• Schoenmaker, D. (2011) ‘The financial trilemma’, Economics Letters 11(1): 57–9. doi: 10.1016/j.econlet.2011.01.010
   Web of Science ®Google Scholar
• Stacey, J. and Rittberger, B. (2003) ‘Dynamics of formal and informal institutional change in the EU’, Journal of European Public Policy 10(6): 858–83. doi: 10.1080/1350176032000148342
   Web of Science ®Google Scholar
• Van Rompuy, R. (2012) ‘Towards a genuine Economic and Monetary Union’, Brussels, 26 June.
   Google Scholar
• Wall Street Journal (2012) ‘State of Europe's banks: safe and stressed’, 24 September, available at http://www.wsj.com/articles/SB10000872396390443890304578008534178895560 (accessed 25 September 2012).
   Google Scholar
• Yiangou, J., O’Keeffe, M. and Glöckler, G. (2013) ‘“Tough love”: how the ECB’s monetary financing prohibition pushes deeper euro area integration’, Journal of European Integration 35(3): 223–37. doi: 10.1080/07036337.2013.774786
   Web of Science ®Google Scholar