Jak obrodit evropské finanční trhy

FRANKFURT – Navzdory značnému pokroku v integraci finančních trhů Evropské unie zůstávají v klíčových oblastech bariéry: v maloobchodních službách, bankovních fúzích a akvizicích či daňové harmonizaci, abychom jmenovali jen namátkou. Dokončení jednotného finančního trhu by povzbudilo hospodářský růst a prosperitu ve všech členských státech. Dále by rozšířilo spotřebitelskou volbu, otevřelo řadu nových investičních příležitostí, posílilo bankovní sektor EU a proměnilo Evropu v centrum finančního novátorství.

Jak bude jednotný evropský finanční trh v budoucnu vypadat? Zaprvé, uvnitř EU je třeba srovnat hřiště. Zadruhé, musí se rozšířit konsolidace evropského bankovního sektoru, přičemž je nezbytné odstranit všechny ochranářské bariéry a jiné překážky znesnadňující fúze a akvizice. Zatřetí, evropský trh by se měl plně integrovat do globální sítě finančních center, zejména těch, které jsou ve Spojených státech a v Asii.

Akční plán finančních služeb EU, započatý v roce 1999 a uskutečňovaný po etapách, se zaměřil hlavně na trhy cenných papírů. Posloužil jako vzpruha soutěživosti a novátorství u profesionálních obchodníků a pobídl zejména institucionální aktéry na trhu, aby obchodovali přes hranice EU. Díky tomu bylo dosaženo značného pokroku v sektoru „velkoobchodu“ s cennými papíry. Maloobchodní zákazníci však byli do velké míry přehlíženi.

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