La trampa de la armonía

Existe un sentimiento generalizado de que la integración europea se está moviendo hacia los lados, si no es que hacia atrás. Pero al menos en un campo se han logrado avances reales: los esfuerzos de la Comisión a fin de construir un mercado único para los servicios financieros.

Un ambicioso Plan de Acción para los Servicios Financieros (lanzado en 1999 con el objetivo de alcanzar un mercado al mayoreo único, mercados al menudeo abiertos y seguros, y normas cautelares y supervisión de avanzada) incluía 42 medidas que debían implementarse entre 2003 y 2005. Después de un lento arranque, se han logrado avances rápidos: se han adoptado formalmente 36 medidas que incluyen directrices importantes sobre abuso de los mercados, folletos, garantías financieras, mercadeo a distancia, esquemas colectivos de inversión y un conjunto común de estándares internacionales de contabilidad para las cuentas consolidadas de todas las empresas que cotizan en las bolsas de valores.

Se ha alcanzado una posición común sobre otras cuatro medidas, que incluyen directrices sobre servicios de inversión, transparencia y fusiones. También se ha dado un salto institucional hacia adelante con la adopción del llamado método Lamfalussy para la adopción rápida de las medidas y la aprobación de un comité de reguladores europeos.

To continue reading, please log in or enter your email address.

Registration is quick and easy and requires only your email address. If you already have an account with us, please log in. Or subscribe now for unlimited access.

required

Log in

http://prosyn.org/mX9ARm7/es;
  1. China corruption Isaac Lawrence/Getty Images

    The Next Battle in China’s War on Corruption

    • Chinese President Xi Jinping knows well the threat that corruption poses to the authority of the Communist Party of China and the state it controls. 
    • But moving beyond Xi's anti-corruption purge to build robust and lasting anti-graft institutions will not be easy, owing to enduring opportunities for bureaucratic capture.
  2. Italy unemployed demonstration SalvatoreEsposito/Barcroftimages / Barcroft Media via Getty Images

    Putting Europe’s Long-Term Unemployed Back to Work

    Across the European Union, millions of people who are willing and able to work have been unemployed for a year or longer, at great cost to social cohesion and political stability. If the EU is serious about stopping the rise of populism, it will need to do more to ensure that labor markets are working for everyone.

  3. Latin America market Federico Parra/Getty Images

    A Belt and Road for the Americas?

    In a time of global uncertainty, a vision of “made in the Americas” prosperity provides a unifying agenda for the continent. If implemented, the US could reassert its historical leadership among a group of countries that share its fundamental values, as well as an interest in inclusive economic growth and rising living standards.

  4. Startup office Mladlen Antonov/Getty Images

    How Best to Promote Research and Development

    Clearly, there is something appealing about a start-up-based innovation strategy: it feels democratic, accessible, and so California. But it is definitely not the only way to boost research and development, or even the main way, and it is certainly not the way most major innovations in the US came about during the twentieth century.

  5. Trump Trade speech Bill Pugliano/Getty Images .

    Preparing for the Trump Trade Wars

    In the first 11 months of his presidency, Donald Trump has failed to back up his words – or tweets – with action on a variety of fronts. But the rest of the world's governments, and particularly those in Asia and Europe, would be mistaken to assume that he won't follow through on his promised "America First" trade agenda.