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“Banking Nationalism in the Eurozone’s Debt and Currency Crisis” CES Friday Lecture with Rachel Epstein, University of Denver

October 9, 2015 @ 1:30 pm - 3:00 pm

Since 2010, the Eurozone’s economic crises have usually been framed in terms of excessive debt. Ongoing debt and reform negotiations in Greece reinforce the notion that both public and private borrowing is at the root of the crisis, which in turn undermines the common currency. This talk focuses on a different, but equally, if not more important, source of the Eurozone’s woes–and that is banking nationalism. I argue that banking nationalism in Western Europe–whereby states protect domestic ownership, engage in regulatory competition and promote external expansion of their banking groups–has contributed significantly to both the duration and the character and the European economic crisis. I will also argue that the recent move toward European Banking Union, which includes centralized bank supervision in the European Central Bank, is an important step forward in severing bank-state ties, but at the expense of national economic sovereignty.


Acknowledgement of Support: This event has been produced with the assistance of the European Union. The contents of this event are the sole responsibility of The UNC Center for European Studies and can in no way be taken to reflect the views of the European Union.


October 9, 2015
1:30 pm - 3:00 pm
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