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The purpose of this study is to understand Hungary, the Czech Republic and Poland's opt out position from the Banking Union (BU). The Banking Union is compulsory for Eurozone member states and optional for non-Eurozone member states. From the Central and Eastern European (CEE) region only Romania and Bulgaria decided to join. First, we attempt to explain this fact based on structural characteristics of the CEE banking sectors, but we find no substantial difference between the opt-in and opt-out countries' banking sectors. Second, we look at the role of state capacity in maintaining a stable banking sector, and find that state capacity is a necessary condition for opting out. Finally, using Hungary as a case study, and the Czech Republic and Poland as further examples, we argue that these countries opted out because their governments' policy preference of banking nationalism conflicts with the BU's ideals.

The paper starts with an overview of competing theoretical approaches to understanding Europeanization of Central and East European applicant states. lt is suggested that instead of seeing the process as strictly "top-down," we must investigate the ways in which the common pressures and constraints of Europeanization are processed and responded to in particular local contexts. In the main section the paper is focussed on the case of Slovenia in order to examine how common pressures impinge upon, challenge or reinforce national 'models' and practices, in particular two "sites of Europeanization" are examined: the restructuring of the Slovenian banking sector and recent political turmoil around the privatization of a local Slovene brewery. The authors suggest through these cases how the process of Europeanization operates not only in the political sphere, but also involves contentious debates in the public sphere.

The paper starts with an overview of competing theoretical approaches to understanding Europeanization of Central and East European applicant states. It is suggested that instead of seeing the process as strictly "top-down," we must investigate the ways in which the common pressures and constraints of Europeanization are processed and responded to in particular local contexts. In the main section the paper is focussed on the case of Slovenia in order to examine how common pressures impinge upon, challenge or reinforce national 'models' and practices, in particular two "sites of Europeanization" are examined: the restructuring of the Slovenian banking sector and recent political turmoil around the privatization of a local Slovene brewery. The authors suggest through these cases how the process of Europeanization operates not only in the political sphere, but also involves contentious debates in the public sphere. (Prokla / FUB)

Die Verfasserinnen setzen sich zunächst mit unterschiedlichen theoretischen Ansätzen zur Erklärung der Europäisierung der mittel- und osteuropäischen Beitrittsstaaten auseinander. Sie schlagen vor, diesen Prozess nicht als "top-down"-Prozess zu verstehen, sondern zu fragen, wie sich die gemeinsamen Zwänge der Europäisierung in bestimmten lokalen Zusammenhängen um- und durchsetzen. Am Beispiel Sloweniens wird gezeigt, wie diese Zwänge nationale Modelle und Strukturen verändern oder verstärken. Dabei geht es vor allem um zwei konkrete Schauplätze der Europäisierung: die Restrukturierung des slowenischen Bankensektors und den politischen Konflikt um die Privatisierung einer örtlichen Brauerei. Dabei wird deutlich, dass sich der Europäisierungsprozess nicht nur im politischen Bereich vollzieht, sondern auch Debatten in der Öffentlichkeit nach sich zieht. (ICEÜbers)