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Does the emperor have financial crisis clothes? Reflections on the legal basis of the European Banking Authority

Fahey, Elaine (2011) Does the emperor have financial crisis clothes? Reflections on the legal basis of the European Banking Authority. [Conference Proceedings] (Submitted)

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    Abstract

    The European Union institutional package launched in response to the financial crisis used Article 114 TFEU as its legal basis. The author explores the legal basis for one of the European Supervisory Authorities recently established- the European Banking Authority (EBA). The use of Article 114 TFEU, the main Treaty basis used to harmonise laws in order to further the internal market, as the foundation for the EBA, is considered in detail. A paradox of contemporary EU Institutional law is assessed here, considering whether on the one hand, the EBA is functionally both too narrow and too broad as a matter of law, while on the other hand, it may prove to be central to restoring confidence in EU regulatory powers, rendering it “too big to fail,” despite its slender foundations in Article 114 TFEU.

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    Item Type: Conference Proceedings
    Subjects for non-EU documents: EU policies and themes > EU institutions & developments > European Central Bank
    EU policies and themes > Policies & related activities > economic and financial affairs > Single Market > harmonisation/standards/mutual recognition
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 01 Nov 2019 10:47
    Number of Pages: 16
    Last Modified: 01 Nov 2019 10:47
    URI: http://aei.pitt.edu/id/eprint/52667

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