Inauguration of New ECB Premises, ECB, CC-BY-NC-ND-2.0
The Edinburgh Europa Research Group is pleased to invite you to its next event:
What Political Science Can Tell Us About the Design and Operation of Banking Union
Principal-Agent Theory and the Single Supervisory Mechanism
Wednesday 4 November 2015
5pm – 6.30pm
50 George Square · Room G.02
George Square · Edinburgh EH8 9JU
Prof David Howarth
Professor of Political Economy
The University of Luxembourg
Principal-Agent theory has rarely been applied to analyse the relationship between two non-majoritarian institutions. This presentation explains how an application of Principal-Agent theory sheds light on the design and likely operation of the Single Supervisory Mechanism (SSM) and, specifically, relations between the European Central Bank (ECB) and National Competent Authorities (NCAs). The SSM has strong centrifugal forces, especially with regard to the supervision of smaller banks, despite the agreement of a single supervisory manual to be used by all NCAs. The ECB Principal has thus been assigned control mechanisms to prevent NCA Agent slippage.
Anthony Salamone | Chair
Europa Research Group Co-Convenor
PhD Candidate in Politics
The University of Edinburgh
This event is free and non-ticketed
All are welcome
PARTICIPANTS
David Howarth
The University of Luxembourg
Prof David Howarth is Professor of Political Economy at the University of Luxembourg. His research interests include the political economy of European integration and national, European and international financial regulation. He is Honorary Fellow of the Edinburgh Europa Institute.
Anthony Salamone (@AMSalamone)
The University of Edinburgh
Anthony Salamone is Co-Convenor of the Edinburgh Europa Research Group and PhD Candidate in Politics at the University of Edinburgh. He is Managing Editor of European Futures and his research focuses on the politics of the UK’s EU relations.