The challenge of completing banking union

in Bongardt, Annette; Torres, Francisco (Eds.) The Political Economy of Europe’s Future and Identity: Integration in crisis mode (2023)

Banking Union represents one of the most important developments in European integration since the launch of Economic and Monetary Union (EMU). Yet the design of Banking Union agreed between 2012 and 2014 ... [more ▼]

Banking Union represents one of the most important developments in European integration since the launch of Economic and Monetary Union (EMU). Yet the design of Banking Union agreed between 2012 and 2014 was a messy compromise among EU member states seeking to rebuild confidence in European banking sectors in the aftermath of the international financial crisis and in the midst of the euro area’s sovereign debt crisis. A decade after the launch of Banking Union proposals in June 2012 and fifteen years since the outbreak of the worst international financial crisis since the late 1920s, the design of EU bank regulation, supervision, support and resolution remains hotly contested, in both academic and policy-making circles. In this chapter, we highlight two main issues that need to be addressed in order to strengthen Banking Union: first, its incomplete institutional design and, second, the difficulty encountered in applying the different elements of Banking Union to loosen sovereign-bank ties. [less ▲]

The ECB as a banking supervisor: transparent compared to what?

in Journal of European Integration (2023), 45(1), 121-137

After over a decade of crisis, the ECB’s functions have expanded considerably, which in turn altered its relationship with other institutions. In particular, when the ECB assumed the role of Banking ... [more ▼]

After over a decade of crisis, the ECB’s functions have expanded considerably, which in turn altered its relationship with other institutions. In particular, when the ECB assumed the role of Banking Supervisor under the Single Supervisory Mechanisms, it was generally accepted that this role would require more accountability than its traditional role in monetary policy. Yet, accountability requires transparency. However, there is a dearth of studies on the transparency of European banking supervision, and the few that exist are usually single case studies. This leaves us without a point of comparison that would help us understand what constitutes a “transparent banking supervisor”. Therefore, the aim of this article is to situate the transparency of the ECB within the wider literature on the transparency of banking supervisors. This allows us to pinpoint more precisely its strengths and shortcomings and the potential for reforms. [less ▲]

Luxembourg: All Hands on Deck

in Lynggaard; Jensen; Kluth (Eds.) Governments' Responses to the Covid-19 Pandemic in Europe: Navigating the Perfect Storm (2023)

Luxembourg recorded a comparatively high number of infections during the first wave of the Covid-19 crisis. The health system nevertheless remained fully functional as additional Covid centres were set up ... [more ▼]

Luxembourg recorded a comparatively high number of infections during the first wave of the Covid-19 crisis. The health system nevertheless remained fully functional as additional Covid centres were set up throughout the country for the detection and treatment of less severe cases. A hard lockdown was imposed to cope with the first wave. Crisis management remained a depoliticized issue as the political parties and civil society more generally united behind the efforts to combat the pandemic. After the first wave, crisis management became more politicized, as the opposition complained about a lack of genuine consultation and as some civil society groups were disappointed by a late and lukewarm response to the second wave. Overall, crisis management was most successful when it combined authority with clear rules and good communication, but became less effective when rules became more complex. [less ▲]

Luxembourg: History

in Western Europe 2024 (2023)

Luxembourg: History

in Western Europe 2023 (2022)

Reforming the Institutions of Eurozone Governance

in Politics and Governance (2021), 9(2), 159162

The mainstreaming of EU affairs: a challenge for parliamentary administrations

in Journal of Legislative Studies (2021)

Past research has identified a trend towards the bureaucratisation of the parliamentary scrutiny of EU affairs. It highlighted the role of parliamentary staff in selecting relevant issues, advising on ... [more ▼]

Past research has identified a trend towards the bureaucratisation of the parliamentary scrutiny of EU affairs. It highlighted the role of parliamentary staff in selecting relevant issues, advising on subsidiarity and procedures and drafting of opinions and resolutions. However, while administrators clearly play a role, less is known about the Europeanisation of parliamentary administrations. In particular, the impact of the growing Europeanisation of sectoral committees on the Europeanisation of staff is unexplored. This article presents data from a survey of parliamentary administrations in 2021, which shows that the Europeanisation of parliamentary administrations extends beyond the main units in charge of EU affairs and affects sectoral committee staff more generally. At the same time, it reveals that the organisation of staff support for EU affairs varies greatly across the national parliaments depending on the organisation of the political scrutiny, on administrative capacity and on pre-existing units. [less ▲]

Progress at Snail’s Pace? Regional Involvement and Treaty Changes since 1990

in Abels, Gabriele (Ed.) From Takers to Shapers? Challenges for Regions in a Dynamic EU Polity (2021)

From the mid-1980s, the sub-state level has become increasingly recognized as a political actor in European Union (EU) politics. Starting with the Treaty of Maastricht, a series of EU Treaty changes have ... [more ▼]

From the mid-1980s, the sub-state level has become increasingly recognized as a political actor in European Union (EU) politics. Starting with the Treaty of Maastricht, a series of EU Treaty changes have recognized the democratic role of regions and local authorities and have created consultative mechanisms for them. However, the very regions that pushed for these changes – namely the strong legislative regions like the German Länder and the Belgian regions – became dissatisfied with the innovations of the Treaty of Maastricht almost as soon as they were implemented. As a result, their strategy focused increasingly on limiting transfers of competences to the European level in areas of importance to regions. The aim of this contribution is therefore to examine the evolution of the demands of strong legislative regions and their rights on the European level. It argues that the diversity of European regions has made it difficult to reconcile European integration with the status and functioning of strong legislative regions. [less ▲]

Editorial: Small States and the ‘Corona Crisis’

in Small States & Territories (2021), 4(1), 3-12

Luxembourg and the European Union

in Oxford Research Encyclopedia of Politics (2021)