Die Erneuerung der europäischen Finanzmärkte

FRANKFURT – Trotz großer Fortschritte bei der Integration der europäischen Finanzmärkte gibt es in Schlüsselbereichen noch immer Hindernisse. Zu diesen Bereichen zählen der Retail-Markt, Bankenzusammenschlüsse und Akquisitionen sowie die Harmonisierung der Steuergesetze, um nur ein paar wenige zu nennen. Die Schaffung eines Finanzbinnenmarktes würde in jedem EU-Mitgliedsland das Wirtschaftswachstum und den Wohlstand fördern. Außerdem würde man damit die Wahlmöglichkeiten für den Verbraucher erhöhen, unzählige neue Investitionschancen eröffnen, den Bankensektor in der EU stärken und Europa zu einem Zentrum für Finanzinnovation machen.

Wie soll nun der europäische Finanzbinnenmarkt der Zukunft aussehen? Zunächst einmal müssen innerhalb der EU einheitliche Bedingungen geschaffen werden. Zweitens muss die Konsolidierung des europäischen Bankensektors ausgeweitet und alle protektionistischen Schranken oder andere Hindernisse für Zusammenschlüsse und Akquisitionen eliminiert werden. Drittens sollte der europäische Markt vollständig in das globale Netzwerk der Finanzzentren, vor allem in den USA und Asien, integriert werden.

Der im Jahr 1999 lancierte und schrittweise umgesetzte EU-Aktionsplan für Finanzdienstleistungen legte das Hauptaugenmerk auf den Wertpapiermarkt. Damit förderte man den Wettbewerb und die Innovation auf der Ebene der professionellen Händler und stärkte vor allem institutionelle Marktteilnehmer im grenzüberschreitenden Handel innerhalb der EU.  Im Bereich der „Whole Sale-Investoren” auf dem Wertpapiersektor kam es daher zu beträchtlichen Fortschritten. Privatkunden hingegen wurden großteils ignoriert.

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