The European Banking Union: Institutional Features and Accountability Implications | European Banking Union – Democracy, Technocracy and the State of Integration
Conference: European Banking Union: Democracy, Technocracy and the State of Integration - Global Governance Programme, Robert Schuman Centre for Advanced Studies, European University Institute
By: Sergio Fabbrini, LUISS School of Government
Similaire à The European Banking Union: Institutional Features and Accountability Implications | European Banking Union – Democracy, Technocracy and the State of Integration
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The European Banking Union: Institutional Features and Accountability Implications | European Banking Union – Democracy, Technocracy and the State of Integration
1. Robert Schuman Centre for Advanced Studies –
EUI
Fiesole (Florence) – 22-23 May 2015
Conference on:
«European Banking Union: Democracy,
Technocracy and the State of Integration»
“The European Banking Union:
Institutional Features and Accountability
Implications”
Sergio Fabbrini
Director, LUISS School of Government
Professor of Political Science and Jean Monnet
Chair
and
Mattia Guidi, Post Doc, Luiss School of
Government
Rome- Italy
15. 6. Institutional outcomes in the EBU (2)
3. Commission No role in the SSM. In the SRM, it drafts a shortlist of
candidates for the appointment of the six “full-time members” (but it
does not appoint them). It can propose to the Council to reject or
amend a resolution scheme submitted by the Single Resolution Board.
4. ECJ It has the right to review the legality of decisions taken by EU
institutions and bodies established for the EBU. If a signatory party to
the IGA wants to withdraw because it believes there has been a
“fundamental change in circumstances”, it is the ECJ that verifies its
existence.
5. National agencies Both in SSM and SRM, they become “subsidiaries”
of EU agencies.
6. ECB It has acquired the banking supervision competence (SSM). No
important formal competences in the SRM, but its consultation with
the SRB is crucial.
17. B
1. The EBU is a formidable step in the integration process:
however, more integration does not necessarily mean more
supra-nationalization (Jean Monnet’s falsification)
2. The mixed decision-making regime emerging in the EBU raises
crucial problems of accountability. Supranationalization is
achieved by-passing the EP and the Commission. The main
decisions are delegated to independent agencies (ECB and
SRB).
3. The “institutional winner” in the EBU/SSM is the ECB and in
the EBU/SRM are the MSs.
4. The dual legal system of the banking-sector policy (EBU and
ESFS) can make problematic the coordination between Euro
and non-Euro areas – increasing the accountability deficit of
both. Which European Union is taking shape?
7. Conclusion