Countries thus far realise their energy security predominantly with energy policies (e.g., diversifying the energy mix and suppliers) and their energy security risk instruments mostly address the risk of shortterm supply disruptions. Lack of commercially viable sustainable energies and a renewed...

This paper introduces the topic of Europe's changing financial landscape and highlights the findings of the contributions to this volume of the EIB Papers. Key points emerging from this overview include: (i) a variety of factors are reshaping Europe's finance, notably the Single Market, EMU,...

Emphasising the scope for further growth in institutional investment, in Europe in particular, this paper focuses on the impact of institutional investment on the efficiency and stability of financial systems. The paper stresses the scope for efficiency gains arising from an increasing role of...

The 1992 "Single Market" failed to create a real single market for financial services across Europe. However, the boom in bond issuance (stimulated by EMU) and the coincidental equity issuance boom have both led to dramatic changes in the infrastructure of financial markets. So, the EU is well...

Capital markets are - by definition - a fairly new phenomenon for countries that started embracing capitalism a little more than ten years ago. More specifically, the first securities exchanges in Central and Eastern Europe (CEE) opened at the beginning of the 1990s and the last had been set up...

A healthy and developing financial sector is a key support to balanced and sustainable economic growth. And as the countries of central Europe - the Czech Republic, Hungary, Poland, Slovakia, and Slovenia - approach EU membership and ultimately adoption of the euro, the litmus test for financial...