Report sees integration of EU financial markets still uneven
BRUSSELS, Dec. 13 (Xinhua) -- Integration of financial markets across the European Union (EU) remained uneven though progress was made, the European Commission said in a report on Thursday.
After years of endeavor, the EU financial integration has progressed but the speed and scope has not been the same across all market segments, the report said.
Problems mainly existed with retail financial markets, where the lack of integration was reflected in wide price variations across member states and low volume of direct cross-border transactions, according to the commission's annual assessment.
For the wholesale segment, specifically equity markets, further efforts were also needed to integrate securities clearing and settlement systems.
"Our financial services sector is still characterized by an uneven level of integration of wholesale and retail financial markets. While integration of capital markets has progressed significantly in recent years, in retail financial services it has not yet reached its potential," said EU Internal Market and Services Commissioner Charlie McCreevy.
On the positive side, the report found that European financial integration has changed market structures, due in part to merger and acquisition activities. The continued consolidation process has resulted in rising concentration ratios in many markets.
The progress of financial integration has also multiplied the market links between member states and across financial sectors, which would have potential effects on financial stability.
Meanwhile, financial innovation has been progressing quickly, resulting in new products and practices, the report said.
猜你喜欢
-
- 03-082018考研英语:考研英语作文常用句型
- 03-082018考研英语翻译题10大必备句式
- 03-082018考研英语阅读一百天该怎么冲刺
- 03-082018年考研英语百日计划详细计划表
- 03-082018年考研英语百天每日复习计划表
- 03-08考研英语翻译:评分标准及最好的复习材料是什么
- 03-082018年考研英语完型中的熟词僻义如何拿下
- 03-08考研英语文章的主旨和作者的态度是一篇文章的灵魂
- 03-082018年考研法律硕士(非法学)命题趋势
- 03-082018考研英语阅读第一步:需要快速把握文章主旨