Project description
A multilevel perspective on the European Banking Union’s impact
In 2013, the EU created the European Banking Union (EBU) to ensure stability in the EU banking sector. This move was part of the EU’s institutional response to the deepening of the financial crisis in 2012. Nearly a decade later, the EU-funded IMPACTEBU project will study the multidimensional impact the EBU has had on both the EU and its Member States. To shed light on this under-researched topic, it will explore the EBU’s impact on the institutional balance in EU Member States Germany, France and Italy. The project will also study the EBU’s effect on the EU’s institutional framework, particularly for the European Central Bank and for agencies and bodies such as the European Banking Authority. An assessment of whether accountability is guaranteed will also be carried out.
Objective
The economic and financial crisis that hit Europe a decade ago showed that the rules in force in the European Union (EU) could not cope with a banking and debt crisis appropriately. To tackle this problem, the European Banking Union (EBU) was established (2013), leading to the EU gaining competences in bank supervision and bank resolution. Yet, the creation of the EBU has numerous and multi-dimensional consequences for both the EU and its Member States. This project aims to examine those consequences. Taking France, Germany and Italy as representative case studies, it firstly analyses the impact that the EBU’s creation has had on the institutional balance at national level. Secondly, it considers its impact on the EU’s institutional framework, and in particular the consequences for the European Central Bank as well as specifically-created agencies and bodies such as the European Banking Authority. Thirdly, this project examines the EBU’s impact from a multilevel perspective, assessing whether accountability is sufficiently guaranteed or whether any gaps have emerged. Indeed, as shown by the crisis, bank failures have very significant consequences for Member States’ economies and tax payers’ money, which means that the transfer of bank supervision and resolution to the EU arguably requires high(er) levels of administrative accountability (i.e. auditing control), as well as judicial (i.e. judicial review) and democratic accountability. This project analyses these three types of accountability both as stand-alone issues and overlapping concerns. In employing a unique combination of legal and political science methods, while being informed by (political) economic research, and in addressing an emerging but under-researched topic, this project is original and will contribute greatly to making the EBU less obscure to citizens and stakeholders, while informing on-going reform discussions.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.1.3. - EXCELLENT SCIENCE - Marie Skłodowska-Curie Actions
MAIN PROGRAMME
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H2020-EU.1.3.2. - Nurturing excellence by means of cross-border and cross-sector mobility
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
MSCA-IF - Marie Skłodowska-Curie Individual Fellowships (IF)
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-MSCA-IF-2019
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
75341 PARIS CEDEX 07
France
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.