The European Banking Union and the Role of Law
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The European Banking Union and the Role of Law

Edited by Gianni Lo Schiavo

The European Banking Union and the Role of Law offers a comprehensive and unique examination of the European Banking Union’s (EBU) impact on existing legal disciplines and assesses the role of law in shaping the EBU framework.
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Chapter 5: Accountability and democratic oversight in the European Banking Union

Diane Fromage and Renato Ibrido

Abstract

At the heart of the discussions on Brexit are issues about the future balance between the mobility and place-dependency of cross-border flows and networks. This chapter examines this issue against the background of the internal market and the Banking Union. It will be shown that both in an internal market context and in a Banking Union context, improvements in ‘spatial mobility’ are enabled, supported and controlled by processes of state-EU ‘rescaling’. However, the UK is committed to retreat from the EU level, including from internal market membership. At the time of writing, there is significant uncertainty about what (if anything) will substitute for mobility-enhancing arrangements and for traditional state-EU rescaling that has gone hand in hand with improvements in cross-border mobility. This chapter will discuss what is known so far.

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