Publisher's Synopsis
This is a new and in-depth examination of the rapid changes that have, in less than 10 years, transformed eleven segregated capital markets into Euroland, the second largest capital market in the world. The book also clearly identifies the areas in which Europe still has to progress in order to complete the integration of its capital markets. Fifteen chapters examine: the euro and its implications for integration; Europe's banking system including the role of the European Central Bank, payment systems, cross-border relationships, long-term trends and strategies; the effects of the single market on the corporate sector including M&A and corporate finance; the overhaul of pension funds and the resulting increase in demand for equities and fixed income products; the rise of e-commerce and its effect on the capital markets, retail business and industry; detailed analysis of the debt, Pfandbrief, equity, derivatives, credit derivatives and money markets; and the growth in securitization.
