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The "old" and "new" politics of financial services regulation in the European Union

By Lucia Quaglia

Abstract

This paper examines the regulatory response of the European Union to the global financial crisis, addressing the questions of whether, how and why the global financial crisis has changed the ‘old’ politics of financial services regulation in the EU. It is argued that the crisis challenged the existing model of financial regulation, which had to a considerable extent been influenced by the UK and the financial industry. With a good dose of political opportunism, a less ‘market-friendly’ approach to financial regulation has gained ground in the EU, empowering the coalition sponsoring that paradigm, notably France and Germany

Publisher: European Social Observatory
Year: 2010
OAI identifier: oai:sro.sussex.ac.uk:18820
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