How do regulatory structures evolve in EU financial governance? Incorporating insights from a variety of disciplines, Governing Finance in Europe provides a comprehensive framework to investigate the dynamics leading to centralisation, decentralisation and fragmentation in EU financial regulation. Offering a comprehensive and generalizable theoretical account of regulatory centralisation, this book combines theoretical approaches from political science, law, sociology and economics to trace centralisation in EU financial governance. Contributors build on a rich political science and legal literature and offer empirical analyses of major EU legislative packages in financial regulation, including the Markets in Financial Instruments Directive II (MiFID II) and Capital Markets Union (CMU). This book systematically identifies and examines the forces and counter-forces on regulatory centralisation. It also offers conjectures as to who benefits from the regulation and how decision-makers are held politically and legally accountable. Featuring contributions from internationally renowned scholars, this book is key reading for academics working in finance and financial policies, particularly those investigating European politics, regulation and regional integration. It will also be of interest to practitioners and policymakers, as chapters provide unique insights into the real-world implications of financial regulation. Contributors include: F. Bulfone, J. Ganderson, A. Heritier, J. Karremans, H. Marjosola, M.G. Schoeller, A. Smolenska, M. Strand

"If one wants to understand why, from its modest beginnings, the European Parliament has become a major player in EU decision-making, look no further than this book. It presents, to date, the theoretically most compelling, methodologically disciplined and empirically richest account of parliamentary self-empowerment over time, across key functions and policy areas. This volume will be a main point of reference for work on the European Parliament, the dynamics of inter-institutional politics, and EU integration more generally for years to come."-Berthold Rittberger, Professor of International Relations, University of Munich, Germany "Anyone interested in the rise of the European Parliament as a significant actor in the EU should read this book. It offers a fascinating insight into the strategies used by the Parliament to achieve its aims and the conditions for its success or failure. It ranges widely across time and policy areas to give a comprehensive analysis of the Parliament's changing institutional position."-Michael Shackleton, Professor of European Institutions, Maastricht University, The Netherlands, and former EP official This book analyses the European Parliament's strategies of self-empowerment over time stretching across cases of new institutional prerogatives as well as substantive policy areas. It considers why and how the Parliament has managed to gain formal and informal powers in this wide variety of cases. The book provides a systematic and comparative analysis of the European Parliament's formal and informal empowerment in two broad sets of cases: on the one hand, it examines the EP's empowerment since the Treaty of Rome in three areas that are characteristic of parliamentary democracies, namely legislation, the budget, and the investiture of the executive. On the other hand, it analyses the European Parliament's role in highly politicised policy areas, namely Economic and Monetary Governance and the shaping of EU trade agreements.

Leadership of powerful states and organizations is crucial for the success of regional integration projects. This book offers a theoretical model explaining such leadership. By applying the model to eurozone governance and reform, the book combines innovative theorizing on leadership in regional and international affairs with original research on Economic and Monetary Union politics. Six in-depth case studies analyze the (non-)leadership of Germany and EU institutions in eurozone crisis management. Moreover, the book evaluates the eurozone's leadership record since the outbreak of its crisis and helps readers understand the leadership of collective actors, and the extent to which they can contribute to overcoming crisis and fostering European integration. In particular, the book investigates the under-researched questions of who provided leadership in the eurozone crisis and why, and which conditions are required to achieve successful leadership in the EU.

Leadership of powerful states and organizations is crucial for the success of regional integration projects. This book offers a theoretical model explaining such leadership. By applying the model to eurozone governance and reform, the book combines innovative theorizing on leadership in regional and international affairs with original research on Economic and Monetary Union politics. Six in-depth case studies analyze the (non-)leadership of Germany and EU institutions in eurozone crisis management. Moreover, the book evaluates the eurozone's leadership record since the outbreak of its crisis and helps readers understand the leadership of collective actors, and the extent to which they can contribute to overcoming crisis and fostering European integration. In particular, the book investigates the under-researched questions of who provided leadership in the eurozone crisis and why, and which conditions are required to achieve successful leadership in the EU.

"If one wants to understand why, from its modest beginnings, the European Parliament has become a major player in EU decision-making, look no further than this book. It presents, to date, the theoretically most compelling, methodologically disciplined and empirically richest account of parliamentary self-empowerment over time, across key functions and policy areas. This volume will be a main point of reference for work on the European Parliament, the dynamics of inter-institutional politics, and EU integration more generally for years to come."-Berthold Rittberger, Professor of International Relations, University of Munich, Germany "Anyone interested in the rise of the European Parliament as a significant actor in the EU should read this book. It offers a fascinating insight into the strategies used by the Parliament to achieve its aims and the conditions for its success or failure. It ranges widely across time and policy areas to give a comprehensive analysis of the Parliament's changing institutional position."-Michael Shackleton, Professor of European Institutions, Maastricht University, The Netherlands, and former EP official This book analyses the European Parliament's strategies of self-empowerment over time stretching across cases of new institutional prerogatives as well as substantive policy areas. It considers why and how the Parliament has managed to gain formal and informal powers in this wide variety of cases. The book provides a systematic and comparative analysis of the European Parliament's formal and informal empowerment in two broad sets of cases: on the one hand, it examines the EP's empowerment since the Treaty of Rome in three areas that are characteristic of parliamentary democracies, namely legislation, the budget, and the investiture of the executive. On the other hand, it analyses the European Parliament's role in highly politicised policy areas, namely Economic and Monetary Governance and the shaping of EU trade agreements.