Part II Developments at the EU Level, 11 European Financial Architecture
Rosa María Lastra
- International financial system — Monetary system — Monetary obligations — European Central Bank
11.01 This chapter examines the governance structure for financial regulation and supervision in the EU, and the relationship between banking union and the single market. The jurisdictional domain explored in this chapter is that of the EU at large (bearing in mind the needs of the single market in financial services, with European Economic Area (EEA) relevance too). The existence of concentric circles of integration: Eurozone, Single Supervisory Mechanism (SSM)/Single Resolution Mechanism (SRM),1 EU and EEA creates coordination problems and challenges, both in...