Public Administrative Law in a Globalized Concept: Legal Nature of the Collaboration of the EU and the Basel Committee

Csatlós, Erzsébet (2019) Public Administrative Law in a Globalized Concept: Legal Nature of the Collaboration of the EU and the Basel Committee. JOURNAL OF INTERNATIONAL ECONOMIC LAW, 22 (2). pp. 229-245. ISSN 1369-3034

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Abstract

Multilevel governance describes a global system that enrolls some State functions to perform global solutions for global problems. Multilevel-governance and multilevel admin- istration has legality and accountability concerns on their own, although, there are multilevel structures with non-State playground of trans-regulatory nature at the supranational level of cooperation which means additional shades to the colourful palette. The procedure and the structure concerning the creation and the evaluation of effective banking supervision standards in Europe is unique. Given the fact that the European administrative system is also unique, and as Basel rules are produced in a trans-regulatory network, the collaboration of the two sui generis systems requires the rethinking of the classical legal order features. Rule of law which is the basis of classical international relations in the view of public administration of States is challenged by the newly emerged solutions. Necessity and proportionality are put on a scale with classical values and requirements of public administration and efficiency and effectiveness seem to put it on the side of the new type of collaboration. The normative background of such structure is still immature. The multilevel admin- istrative system of financial supervision including the European Union and the Basel Committee for Banking Supervision at supranational level or speaking in a wider context: the framework for multilevel governance with non-state actors at supranational level, is therefore an example for global administrative law of infant status.

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