Cover; The Political Economy of European Banking Union; Copyright; Preface; Contents; List of Figures; List of Tables; List of Acronyms; 1: Introduction; The Argument; The Structure; 2: Understanding Economic and Monetary Union to Understand Banking Union; Lessons from the Literature on Economic and Monetary Union; Lessons from the Emerging Literature on the Establishment and Design of Banking Union; The Analytical Framework of the Book; Conclusion; 3: The Financial Trilemma and the Vicious Circle of Banking and Sovereign Debt Crises The Pre-crisis Framework for Financial Stability in the European UnionThe Causes of the International Financial Crisis and its Effects in the European Union; The Post-crisis Reform of the European Union Framework for Financial Stability; The Unfolding of the Sovereign Debt Crisis in the Euro Area Periphery; The Economic Causes of the Sovereign Debt Crisis in the Euro Area Periphery; The Institutional and Political Causes of the Sovereign Debt Crisis in the Euro Area; Conclusion; 4: European Banking Systems in Times of Crisis; Introduction; Measuring Banking System Internationalization Additional Banking System Features of Potential SignificanceMeasuring the Health of the Banking System; Six National Banking Systems; Germany: Defending the `Local Champions; ́ France: Defending the `National Champions; ́ The Netherlands: A Surprisingly Parochial System; The Italian Banking System and its `Half-Hearted ́Consolidation; The Spanish Banking System: Destabilized by a Traditional Crisis; The International Champions of the British Banking System; Conclusion; 5: Supervision; Introduction Challenging Supervisory Forbearance: Concerns with Moral Hazard and Divergent Supervisory PracticeThe Intergovernmental Negotiations on the Single Supervisory Mechanism; The European Central Bankś Positioning on the Single Supervisory Mechanism; National Banking Systems and Preferences on Direct European Central Bank Supervision; Germany; France; The Netherlands; Italy; Spain; Euro Outsiders and the Single Supervisory Mechanism; National Banking Systems and Non-Euro Area Country Preference on Single Supervisory Mechanism Participation; The Comprehensive Assessment 2014; Conclusion 6: ResolutionIntroduction; The Negotiation of the Bank Recovery and Resolution Directive; The Negotiations on the Single Resolution Mechanism; Explaining National Preferences on the Single Resolution Mechanism; Germany; France; The Netherlands; Italy; Spain; Conclusion; 7: Deposit Guarantee; The Main Functions and Features of Deposit Guarantee Schemes; The Negotiations on the Revision of the Existing Deposit Guarantee Scheme Directive; Negotiating the Common Deposit Guarantee Scheme; National Preferences and Divergent Deposit Guarantee Schemes across the European Union; Germany; France.