EU Financial Services Policy Since 2007: Crisis, Responses, and Prospects

Global Policy Volume 9, Supplement 1, June 2018

Peterson Institute for International Economics Working Paper No. 18-6

17 Pages Posted: 31 Jul 2018

See all articles by Nicolas Veron

Nicolas Veron

Bruegel; Peterson Institute for International Economics

Date Written: June 9, 2018

Abstract

This paper presents a holistic description and assessment of the European Union’s financial services policy since the start of financial crisis in mid-2007. The decade-long sequence is divided into four themes, in broadly chronological order: the initial reaction to the 2007-08 financial shock; subsequent initiatives framed by political developments at the EU and G-20 levels; the banking union from mid-2012; and more recent events centered on the UK vote to exit the European Union (Brexit). The analysis identifies banking union as the watershed moment, and correspondingly assesses the EU policy response as mostly inadequate in the first half and mostly effective in the second half of the period covered. Recommendations for future reforms are made in the conclusion.

Keywords: Banking Union, Financial Regulation, Euro Area, Single Market

JEL Classification: F33, G18, G21, G23

Suggested Citation

Veron, Nicolas, EU Financial Services Policy Since 2007: Crisis, Responses, and Prospects (June 9, 2018). Global Policy Volume 9, Supplement 1, June 2018, Peterson Institute for International Economics Working Paper No. 18-6, Available at SSRN: https://ssrn.com/abstract=3210866 or http://dx.doi.org/10.2139/ssrn.3210866

Nicolas Veron (Contact Author)

Bruegel ( email )

Rue de la Charité 33
B-1210 Brussels Belgium, 1210
Belgium

Peterson Institute for International Economics ( email )

1750 Massachusetts Avenue, NW
Washington, DC 20036
United States

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
45
Abstract Views
423
PlumX Metrics