Abstract
The financial crisis increased the importance of the member states at the expense of European Union (EU) rules on the single market and Economic and Monetary Union. The commission allowed exceptions that could become lasting if the economic downturn persists. At the same time, the EU has supported stronger financial market regulation, but not in corporate governance, where the member states retain reserved powers. The EU only gets and keeps institutions that the member states support.
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Notes
Directive 2000/12/EC on banks, 2000/46/EC on financial holding institutions, 2002/87/EC on financial conglomerates, updated 2006/48&49/EC.
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Donnelly, S. The Public Interest and the Economy in Europe in the Wake of the Financial Crisis. Eur Polit Sci 10, 384–392 (2011). https://doi.org/10.1057/eps.2011.21
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DOI: https://doi.org/10.1057/eps.2011.21