Without a doubt, European financial market integration has been one of the European Union’s great success stories. The EU financial services action plan (FSAP), together with the introduction of the euro, laid the groundwork for a dynamic European financial market.

All of Europe’s capital markets show sound growth rates, and cross-border trade in financial services and cross-border investments is rising. In addition, many financial firms have reorganised their internal structures to streamline their organisations and take advantage of the different skills in Europe’s financial centres.