In this piece published in the November issue of Financial World, I argue that recent developments may lead to a shift of strategy for the City of London vis-à-vis EU financial regulation.
Cross-border market integration has become very significant, and the need for efficient regulation may lead to develop EU-level solutions to specific policy challenges without opening the door to the dreaded, all-encompassing 'single European regulator'.
This debate will not be addressed by the December 2007 review of the Lamfalussy process, but it may gain prominence in 2008.
Download FinancialWorld_Nov07.pdf to read the piece.
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