The European Banking Union: A Shift in the Internal Market Paradigm?

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Abstract

Has a shift occurred in the internal market paradigm towards an economic
union paradigm, whereby the internal market is used to foster economic
policy goals adjacent to the Economic and Monetary Union (EMU)? The
Banking Union is a case in point in this shift, as it stands at the crossroads
between the internal market and the EMU. In the Banking Union, internal
market and monetary and economic policy objectives are intertwined.
This article maps out this shift and assesses how Article 114 TFEU has
been used in it. The article argues that although the establishment of the
Banking Union seems to be a natural continuum of developing the internal
market and the EMU, such use of Article 114 TFEU is questionable in
light of current doctrine and problematic due to the asymmetry of the
EMU.
Original languageEnglish
Pages (from-to)1359-1380
JournalCOMMON MARKET LAW REVIEW
Volume54
Issue number5
Publication statusPublished - 2017
MoEC publication typeA1 Journal article-refereed

Keywords

  • EU law
  • economic and monetary union
  • internal market
  • constitutional law

Field of science

  • Law

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