The establishment of Banking Union represents a major development in European economic governance and European integration history more generally. This book is informed by two main empirical questions: 'Why Banking Union?' and 'Why this specific form of Banking Union?'

Preface 1: Introduction 2: Understanding EMU to understand Banking Union 3: The financial trilemma and the vicious circle of banking and sovereign debt crises 4: European banking systems in times of crises 5: Supervision 6: Resolution 7: Deposit guarantee 8: Lender of Last Resort and the 'Fiscal Backstop' 9: Banking regulation and the single rule book 10: Conclusion

Explains a major development in European economic governance and European integration history more generally Based on fieldwork, including access to senior policy-makers for interviews and a systematic analysis of policy documents Examines the preferences of the six largest EU member states on the main components of Banking Union Informed by a theoretical framework, outlined in Chapter 2 and followed throughout the book Analyses the intergovernmental negotiations on each of the components of Banking Union

David Howarth is Professor of European political economy at the University of Luxembourg and a former Jean Monnet Chair at the University of Edinburgh. He is the author or co-author of three monographs, a textbook, and over seventy journal articles and book chapters on European political economy topics and specifically financial regulation and Economic and Monetary Union. He has also edited or co-edited seven journal special editions and two books on these topics including, most recently (with Huw Macartney), Banking Regulation and Supervision and the Great Leap Forward in European Integration, with the journal West European Politics. Lucia Quaglia is Professor of Political Science at the University of York. Her most recent research monograph is The European Union and Global Financial Regulation (Oxford University Press, 2014). Her previous monographs Governing Financial Services in the European Union (2010) and Central Banking Governance in the EU: A Comparative Analysis (2008) were both published by Routledge. Together with Kenneth Dyson she published two volumes: European Economic Governance and Policies (Oxford University Press, 2010). Together David Howarth she is the guest co-editor of the special issue of the Review of International Political Economy on 'The Political Economy of the Sovereign Debt Crisis in the Euro area' (2015). Together with Dermot Hodson, she was the guest co-editor of the special issue of the Journal of Common Market Studies on 'The Global Financial Turmoil: European Perspectives and Lessons' (2009).

Explains a major development in European economic governance and European integration history more generally Based on fieldwork, including access to senior policy-makers for interviews and a systematic analysis of policy documents Examines the preferences of the six largest EU member states on the main components of Banking Union Informed by a theoretical framework, outlined in Chapter 2 and followed throughout the book Analyses the intergovernmental negotiations on each of the components of Banking Union