Jean-Claude Trichet: The integration of the single market for financial services - the Eurosystem perspective (Central Bank Articles and Speeches)
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چکیده
The process of financial integration is a very challenging and complex endeavour which results from the effective interplay between public and private action. Public authorities, both national and European, do play an important role in ensuring that basic conditions are in place for market participants to expand their cross-border activities. These conditions include an adequate framework of regulation, supervision and financial stability. Whereas public action is necessary, the concrete realisation of financial integration rests eventually on the initiatives of market participants to exploit the opportunities offered by the institutional framework.
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