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Report on EU financial integration

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Abstract

Despite progress in implementing the internal market programme and the introduction of the euro, the EU still does not have a fully integrated financial market. Much has been achieved on the road towards integration, but there is more work still to do. The European Council at Lisbon set the key strategic goal for the EU to become by 2010 ‘the most competitive and dynamic knowledge-based economy in the world'. As recognised by Heads of State and Government, a crucial element to achieve this goal is a more integrated financial market which can act as a catalyst for growth across all sectors of the economy and enhance productivity . As a result of further integration, consumers will benefit from lower prices and better quality products; SMEs and other enterprises will benefit from lower borrowing costs and improved opportunities for risk-sharing.

Suggested Citation

  • Efc, 2002. "Report on EU financial integration," European Economy - Economic Papers 2008 - 2015 171, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    • Handle: RePEc:euf:ecopap:0171
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    File URL: https://ec.europa.eu/economy_finance/publications/pages/publication1860_en.pdf
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    Citations

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    Cited by:

    1. Gual, Jordi, 2003. "Integration of EU banking markets, The," IESE Research Papers D/504, IESE Business School.
    2. Juan Fernández De Guevara & Joaquín Maudos, 2007. "Explanatory Factors Of Market Power In The Banking System," Manchester School, University of Manchester, vol. 75(3), pages 275-296, June.
    3. Schüler, Martin & Heinemann, Friedrich, 2005. "The Costs of Supervisory Fragmentation in Europe," ZEW Discussion Papers 05-01, ZEW - Leibniz Centre for European Economic Research.
    4. Gual, Jordi, 2004. "The Integration of EU Banking Markets," CEPR Discussion Papers 4212, C.E.P.R. Discussion Papers.
    5. Liliane Karlinger, 2002. "The Impact of Common Currencies on Financial Markets: A Literature Review and Evidence from the Euro Area," Staff Working Papers 02-35, Bank of Canada.
    6. Sander, Harald & Kleimeier, Stefanie, 2004. "Convergence in euro-zone retail banking? What interest rate pass-through tells us about monetary policy transmission, competition and integration," Journal of International Money and Finance, Elsevier, vol. 23(3), pages 461-492, April.

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