The EU adopts market language to bypass member-state sovereignty constraints.

Evidence

Adoption of the language of financialised capitalism at least gives the EU Commission support from private actors, and also has the advantage of not offending any national sensitivities (Chiapello and Medjad 2009). This may explain why the EU appears to be in the vanguard of the financialisation process, since it very strictly applies the financialised solutions arising from international negotiations, as seen in both the cases of the Kyoto protocol and the Basel Accords. As the EU has exclusive competence over a small number of matters including competition, it is the language of the market, and that language principally, that enables it to formulate public policies. — Ève Chiapello, Financialisation of Valuation, 106

Categorization

• XREF: Connects to the financialization-of-governance thesis and the EU’s market-based regulatory approach, echoing themes in the reader’s finance work on how market logic colonizes policy domains. — connects to: The Treaty of Rome became a supranational constitution enforcing market rules beyond democratic reach — Quinn Slobodian, Globalists: The End of Empire and the…, 708; European Community law gave market actors a supranational forum beyond their own state. — Quinn Slobodian, Globalists: The End of Empire and the…, 691; States gain global influence only by surrendering some sovereignty — Anthony Giddens, The Consequences of Modernity, 183 (+3 more)
• QUESTION: Worth chasing: this suggests EU vanguardism in financialization is a structural artifact of its competence design, not ideology — testable against other EU regulatory domains.

Related

• European Community law gave market actors a supranational forum beyond their own state. (similarity 0.85)
• The Treaty of Rome became a supranational constitution enforcing market rules beyond democratic reach (similarity 0.80)

Broader Connections

• The Treaty of Rome became a supranational constitution enforcing market rules beyond democratic reach #expands (0.85) — Quinn Slobodian, Globalists, 708
• European Community law gave market actors a supranational forum beyond their own state. #corroborates (0.82) — Quinn Slobodian, Globalists, 691
• States gain global influence only by surrendering some sovereignty #qualifies (0.72) — Anthony Giddens, The Consequences of Modernity, 183