TY - CHAP A1 - Woll, Cornelia ED - King, Desmond ED - Le Galès, Patrick T1 - State Action in Financial Times T2 - Reconfiguring European States in Crisis N2 - The financial crisis revealed the vulnerability of states with financialized economies, but also the extraordinary measures they had recourse to in order to reign in market forces. This chapter argues that this paradox is based on another contradiction: the ambiguity of government–finance relations. While financial institutions are considered to be the culprits of the recent crisis, they were also necessary to support government action and enable a quick recovery. Undoing the ties between banks and states is thus not only a response to conflicts of interests. Uncoupling banks from states through European financial integration also contains risks for future crisis management. Y1 - 2017 SN - 9780198793373 U6 - https://doi.org/10.1093/acprof:oso/9780198793373.003.0010 SP - 201 EP - 214 PB - Oxford University Press CY - Oxford ER -