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Eurofi Association surveyed 180 European institutions and companies to reflect the expectations of market players on EU financial integration. This document should be seen as a preliminary report, as it will be subject to change after further consultations. The final report is due to be presented by June 2003. The present document proposes in particular ways to identify priorities relating to financial integration and sets out ideas for relevant articles that would be included in the future EU Treaty.
In the long term, the development of cross-border and trans-sectorial institutions, as well as the Lamfalussy process would progressively lead, according to a number of answers to the Eurofi survey and interviews, to a European Financial Regulation and Supervision System. Such a framework should not be understood as leading to the creation of a new centralised bureaucracy. Investors and companies would continue to keep a link with the national regulator, which know their local environment.
http://www.ecb.europa.eu/pub/pdf/other/art2_mb201107en_pp71-84en.pdf',WIDTH, 300, SHADOW, true, FADEIN, 300, FADEOUT, 300, STICKY, 1,DURATION,3500)" onmouseout="UnTip()");">ESS RELEASE26NOV2002.doc ' target='_blank'>Press release
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