To study the impact of the introduction of the euro on capital markets, the Commission constituted a group of experts chaired by Mr. A. Giovannini. This group completed these reports as the Commission considers that market harmonisation is a matter for the finanical markets.
EMU can create a broad, liquid, deep and transparent euro securities market. But to achieve this it is vital to define a set of common rules, applied in all countries adopting the euro, governing various aspects of market operations.
Note: Graham Bishop is a member of this Committee