Suchergebnisse

AbstractFollowing the 2007–9 financial crisis, the EU strengthened its institutional apparatus for bank regulation, creating a trio of sectoral bodies, including the European Banking Authority (EBA). Various aspects of this new system have been studied, but to date, little is known about how banks engage with their new supranational regulator. We argue that such engagement fosters an interdependence between banks and regulators, thus contributing to the efficiency and robustness of the overall regulatory regime; but also that it is contingent on the regulator exhibiting the qualities of credibility, legitimacy, and transparency. These qualities are grounded in the domestic regulatory governance literature, but we suggest that they are rendered problematic by the complexities of the EU's multilevel system and, in particular, the overlap in competences between the EBA and the European Central Bank. We examine the EBA in the light of these criteria and find that banks' engagement remains pitched towards established national regulators and the EU's legislative arena. This poses concerns for the efficacy of agency governance in the EU's regulatory regime for banking.

How much influence does the UK have in Europe? How has this changed? We argue that the UK has tended to view its relationship with the EU in transactional terms, and that this has led to a dominant understanding framed in terms of 'costs' and 'benefits.' However, thinking more broadly gives a more nuanced picture of British influence. Thus, we approach this question from two directions: examining the historical record of the UK's role in the development of the EU and the single market; and looking at the ways in which British politicians and officials exert influence in the current political structure. We argue that although the UK has generally had a good track record of success, this has often been threatened by domestic political difficulties – as the current referendum debate shows.

Even though the opinion polling before the British referendum on membership of the European Union showed a narrow gap between the two sides, the actual result-a vote to leave-on the morning of 24 June 2016 came as a surprise to many. Yet in truth both the referendum and its outcome had deep roots in British politics. In this article we cast an eye over the history of Britain's relationship with the EU, which has long been marked by a mixture of awkwardness and successful influence. We trace the origins of the referendum in long-run tensions between, and within, the political parties, and in the lukewarm public support for European integration. We also examine more contingent, short-term factors relating to the referendum campaign itself. We conclude by commenting on the divisions exposed by the vote along lines of geography, education, class and wealth, and suggest that reconciling these with the continuing tensions in the party landscape make a clean and speedy exit from the EU unlikely. (International Affairs (Oxford) / SWP)