EC report on lack of financial sector integration

The European Commission has presented a preliminary analysis of why there has been little cross-border consolidation in the EU financial sector. The report is based on a market participant survey launched in April this.

Internal Market and Services Commissioner, Charlie McCreevy, said "cross-border consolidation in the financial sector is weak compared to other sectors".

"Despite the fundamental single market principles of free movement of capital and freedom of establishment, too many obstacles

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