Speakers
Objectives
The introduction of the single currency in 1999 has been a powerful factor in the integration of the European banking and financial services market. The euro has certainly made inroads into financial markets, becoming the second most important international currency after the dollar. However, despite the progress made thanks to the implementation of some forty directives under the Financial Services Action Plan (1999-2005), the creation of European supervisory authorities (2011), the establishment of the Banking Union (2014) and the two action plans for 2015 and 2020 to promote the CMU, banking and financial markets in Europe remain highly fragmented.
The aim of this session is to assess the objectives of the re-launch of the European financial services market, following the recommendations of the Letta report and in a context where the European financial services ecosystem has continued to lose its competitive edge compared to North America and Asia over the last 15 years. Speakers will be invited to share their views on how to make tangible progress towards a more unified banking and financial services market during the next European legislative cycle and how to overcome the resistance of many European countries.
Points of discussion
- Given the current geopolitical context and the fact that European financial players are lagging behind their American and Asian competitors in terms of competitiveness, what should the aims of revitalizing the European financial services market be?
- How can we achieve tangible progress towards a more unified banking and financial services market during the next European legislative cycle, and overcome the resistance of many European countries?