European Banking Nationalism: State Power and Troubled Banks

This book compares the different expressions of, and outcomes from, banking nationalism in two European countries to draw wider conclusions about the consequences for Banking Union in Europe and to show how national governments deal (or fail to deal) with international commitments. It reveals how and why one case – Spain – managed to tackle failing banks within EU Banking Union regulations even before they became written in EU law, while the other – Italy – had more persistent problems. The book argues that Spain demonstrates a successful case of liberal economic nationalism, typified by aggressive, early state intervention to restructure Spanish banks and help from the European Stability Mechanism even in the face of local political opposition. Italy, meanwhile, suffered from the weaker, delayed intervention which forced it to confront European institutions with demands for special treatment as a means of externalizing its internal weakness.

Format: Paperback / softback
Length: 178 pages
Publication date: 30 December 2022
Publisher: Taylor & Francis Ltd

This comprehensive book delves into the intricate dynamics of banking nationalism in two European countries, offering valuable insights into the consequences of banking union in Europe and the strategies employed by national governments to navigate international commitments. Through a comparative analysis, it sheds light on how Spain successfully addressed failing banks within the framework of EU Banking Union regulations even before they were formally established in EU law, while Italy faced persistent challenges. The book argues that Spain exemplifies successful liberal economic nationalism, characterized by proactive and assertive state intervention to restructure Spanish banks and secure support from the European Stability Mechanism, even in the face of local political resistance. In contrast, Italy experienced weaker and delayed intervention, leading to demands for special treatment from European institutions as a means of externalizing its internal weaknesses.

This book holds immense significance for scholars, students, and professionals engaged in economic policy, Economic and Monetary Union, Banking Union in Europe, European and global governance, European/EU studies, European public policy, European public administration, and EU law. It provides valuable perspectives and analytical frameworks to understand the complex interplay between national interests, international regulations, and the financial sector. Moreover, professionals working in the banking sector will find this book particularly insightful, as it offers valuable insights into the strategies and challenges faced by banks in a rapidly evolving European landscape.

In conclusion, this book is a must-read for anyone interested in understanding the implications of banking nationalism and the future of banking union in Europe. It offers a comprehensive and insightful examination of the contrasting approaches taken by Spain and Italy, providing valuable lessons and recommendations for policymakers and stakeholders alike.

Weight: 290g
Dimension: 235 x 157 x 13 (mm)
ISBN-13: 9781032369402