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...

The launch of the euro proved to be extraordinarily smooth - auguring well for its future. If the EU can build on this initial success, then citizens - from anywhere in the world - should come to recognise the euro as a robust 'store of value' for their savings. That should complete the...