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
Date Written: 2018
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: Suggested Citation