Financial Markets (Dis)Integration in a Post-Brexit EU: Towards a More Resilient Financial System in Europe

Contents
Chapter 1: Introduction
	1.1 The Advantages of Financial Markets Integration and Financial Globalization
	1.2 Financial Markets Integration, Finance-Led Capitalism, and Instability
	1.3 Aims and Contents of this Book
	References
Chapter 2: Financial (De)Globalization and Financial Market (Dis)Integration
	2.1 From the Gold Standard to Bretton Woods to Finance-Led Capitalism
	2.2 Transformations of Capitalist Money and Market Economies
	2.3 The Rise of Finance-Led Capitalism: How Neoliberal Financial Market Integration Has Increased Financial Instability
	2.4 Regulating Finance after the Global Financial Crisis
	2.5 From Finance-Led Capitalism to Inclusive Capitalism with Resilient and Sustainable Finance
	References
Chapter 3: Finance-Led Capitalism and Neoliberal Financial Market Integration in Europe
	3.1 History of European Financial Integration and the Challenges Ahead
	3.2 European Integration and the Rise of Finance-Led Capitalism
	3.3 Europe’s Financial Markets Fragmentation and (Dis)Integration
	3.4 Reforming the Economic and Monetary Union Towards More Resilience and Sustainability
	References
Chapter 4: Brexit and Financial (Dis)Integration: Between Cakeism, Project Fear, and Reality
	4.1 Financial Centers in Europe and the City of London
	4.2 British Finance and the GFC
	4.3 The Brexiteers’ Plan for Finance: Opportunities and Challenges
	4.4 The UK Government’s Struggle to Negotiate a Brexit Deal
	4.5 The Brexit Threat of Disintegration to the City
	4.6 Equivalence and Mutual Recognition: Securing ‘Deep Market Access’ Via a ‘Bespoke’ UK-EU Deal
	4.7 Euro denominated Clearing and Passporting Rights
	4.8 What Could London Lose? The Costs of Brexit and Relocations
	4.9 Brexit and the Future of European Financial Centers
	References
Chapter 5: Finishing Capital Markets Union
	5.1 Background and Evolution of Europe’s Capital Market Integration
	5.2 The Flawed Rationale for a CMU
	5.3 CMU—Progress and Obstacles
	5.4 The Limits of Sound Securitization in Finance-Driven Capitalism
	5.5 Short-Termism and CMU
	5.6 Capital Markets Union and Brexit: Are There Only Lose-Lose Solutions and What Is at Stake for the EU’s Financial System?
	5.7 What Would Be a Resilient and Sustainable CMU?
	References
Chapter 6: Finishing the Banking Union
	6.1 The Need for a Banking Union and Orderly Resolution of Failing Banks
	6.2 The Design of the European Banking Union
	6.3 The Banking Union at Work: Progress and Obstacles
	6.4 Banking Union and Finance-Led Capitalism
	References
Chapter 7: Conclusion: The Future of Financial Markets (Dis)Integration
	References
Index