engleski

A Narrative on regulatory paradigms in the EU: From integration to centralization

This paper discusses the basic structure of EU law, describes the main types of EU legal instruments, their hierarchy and examines the administrative requirements in the process of national implementation. The aim is to present the historical background of regulatory policy in the area of EU finance and to narrate the development of different policy agendas of better rulemaking as envisaged by EU policymakers. In this respect the paper examines different policy paradigms followed by EU actors in developing financial regulation, such as regulatory competition and centralization. The main argument suggests that the evolution of political integration towards “more Europe” triggered a paradigm shift in the manner in which European policymakers envisaged regulatory intervention. Namely, this event has emphasized the centralization paradigm and intrusive policy rhetoric in regulation at the expense of national regulatory autonomy and economic diversity.

regulatory policy, EU law, core integration principles, paradigms

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