EU

Europe post-Enron: turning a challenge into an advantage

Karel Lannoo, Centre for European Policy Studies (CEPS)

World stock markets have been hard hit by the recent problems in corporate America concerning Enron and WorldCom. In Europe, this has come at the time when the regulatory and supervisory structure is being revised to allow a more integrated, deep and liquid capital market to emerge. The US thereby functioned as benchmark, which now seems illusory.