International Law as a Negotiation Tool in Banking Union; The Case of the Single Resolution Fund

Journal of Economic Policy Reform, 2018, DOI: 10.1080/17487870.2018.1424631

Posted: 19 Jun 2018

See all articles by Ioannis Asimakopoulos

Ioannis Asimakopoulos

Universite du Luxembourg, Faculty of Law, Economics and Finance

Date Written: 2018

Abstract

EU’s response to the recent Euro-crisis has involved a mixture of EU and international law, with the latter being linked to all the arrangements that may have fiscal implications for national Member States. The SRF embodies all the controversial characteristics of Banking Union. This article illustrates the legal implications that this political choice creates, and how the interrelation between the SRM, the SRF and the ESM, allows leading economies, including Germany, to control the resolution framework both before and after crisis. This raises questions as to the direction that European Integration is taking and its highly nationalised character.

Keywords: Single Resolution Fund, international law, negotiation tool, fundamental changes clause, Nationalised European Integration

JEL Classification: K29

Suggested Citation

Asimakopoulos, Ioannis, International Law as a Negotiation Tool in Banking Union; The Case of the Single Resolution Fund (2018). Journal of Economic Policy Reform, 2018, DOI: 10.1080/17487870.2018.1424631 , Available at SSRN: https://ssrn.com/abstract=3100833

Ioannis Asimakopoulos (Contact Author)

Universite du Luxembourg, Faculty of Law, Economics and Finance ( email )

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Luxembourg-Limpertsberg
Luxembourg

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