Financial supervision in larger Member States: France, Germany and Italy between domestic and European influence

This paper considers the institutional structures for financial supervision in France, Germany and Italy. In particular, it examines how it has evolved over time and how much of the changes introduced were inspired by reforms at the EU (or global) level and how much of them were, instead, triggered by dynamics inherent to these Member States themselves. Setting particular emphasis on the Banking Union and its impact, this paper shows that the influence of the reforms performed at the EU level has been rather limited.