New report on the European financial sector
The European Monitoring Centre on Change issued a dossier last week discussing the challenges that the European financial services sector is facing.
What are the prospects of a viable, more resilient financial industry emerging from the crisis, the report asks. To answer this question it takes a look at the economic trends in the banking and insurance industries and examines the results of the debate on the regulation of financial markets.
The report concludes, among other things, that the financial crisis is the most important driver of change impacting on the banking and insurance industry today. Medium-term prospects for the sector are somewhat moderate, the report says. As is already evident not least in the many proposals for legislation from the EU Commission, the sector is expected to face comprehensive re-regulation. It will also face growing governmental influence and increasing pressure from investors, the report further states.
The European Monitoring Centre on Change is an information resource established with the aim of anticipating and managing change in Europe. It is a part of the Eurofound (European Foundation for the Improvement of Living and Working Conditions) which resides in Dublin, Ireland.