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Banking Union in Historical Perspective: The Initiative of the European Commission in the 1960s–1970s
Author(s) -
MourlonDruol Emmanuel
Publication year - 2016
Publication title -
jcms: journal of common market studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.54
H-Index - 90
eISSN - 1468-5965
pISSN - 0021-9886
DOI - 10.1111/jcms.12348
Subject(s) - commission , european commission , context (archaeology) , banking union , perspective (graphical) , work (physics) , european union , political science , european integration , public administration , economics , international trade , law , engineering , geography , mechanical engineering , archaeology , artificial intelligence , computer science
This article shows that planning for the organization of EU banking regulation and supervision did not just appear on the agenda in recent years with discussions over the creation of the eurozone banking union. It unveils a hitherto neglected initiative of the European Commission in the 1960s and early 1970s. Drawing on extensive archival work, this article explains that this initiative, however, rested on a number of different assumptions, and emerged in a much different context. It first explains that the Commission's initial project was not crisis‐driven; that it articulated the link between monetary integration and banking regulation; and finally that it did not set out to move the supervisory framework to the supranational level, unlike present‐day developments.

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