The economic governance of financial services in the EU

Lucia Quaglia

Chapter 16 in Handbook of European Union Governance, 2025, pp 230-242 from Edward Elgar Publishing

Abstract: The EU governance of financial services is important because of the vast size of the financial sector in the EU and worldwide, the periodic recurrence of financial crises, the cross-border nature of finance, and its multi-level governance. This chapter first outlines the institutional framework for the governance of financial services in the EU and then discusses the main drivers of and obstacles to financial integration and regulation in the EU, summarizing the key features concerning the governance of financial services in the EU before and after the great financial crisis of 2008. It then addresses how the EU's response to the 2009 sovereign debt crisis affected the governance of financial services. The final section, which considers the international dimension of financial governance in the EU, argues that the EU has increasingly sought to shape soft law issued by international financial fora as well as ‘export’ EU financial rules to others.

Keywords: EU; Finance; Financial governance; Financial regulation; Financial crisis (search for similar items in EconPapers)
Date: 2025
ISBN: 9781803925172
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