[fre] L’introduction d’une monnaie unique et l’harmonisation de la réglementation en Europe ont considérablement réduit les distances, dans tous les sens du terme. Avec la réduction des coûts que cela entraîne, des forces centripètes ont été mises en branle et devraient pousser à...

Until about 25 years ago, almost all European countries had a so-called three pillar banking system comprising private banks, (public) savings banks and (mutual) cooperative banks. Since that time, several European countries have implemented far-reaching changes in their banking systems, which...

A financial system can only perform its function of channelling funds from savers to investors if it offers sufficient assurance to the providers of the funds that they will reap the rewards which have been promised to them. To the extent that this assurance is not provided by contracts alone,...