Globale Finanzmärkte und Basel II

Projektstart: 01.05.2006

ProjektleiterIn: Prof. (FH) Mag. Dr. Johannes Jäger

Projektstatus: abgeschlossen


There is an overall consensus in IPE that the process of financial deregulation is driven by the global Dollar-Wall Street-Regime. Less clear is, however, how we should conceive the role of the European Union in this process. While some regard the EU rather as a passive force, simply adapting to the external pressures of financial globalisation, others emphasize its rule setting capacities. In this paper we examine to what extent these positions hold true in the field of global banking regulation. For this purpose, we focus on the negotiation and implementation of the Basel II agreement. From a critical neo-Gramscian and regulationist point of view, we first try to identify the driving forces and main interests behind Basel II. Then, in a second step, the core conflicts and realised compromises will be discussed. Finally, the paper also deals with the putative consequences for the European economy in order to determine whether Basel II represents a further step towards deregulation or not.

Kooperationspartner: University Marburg