Where does pan-European financial regulation go now?

The ‘no votes’ from France and the Netherlands to the proposed European Union (EU) Constitution and the subsequent lack of resolution on key issues at the June EU Summit have elicited comment and speculation “on the way forward for the EU.” Bob McDowall from bta Consulting discusses the future of pan-European financial regulation.

Bob McDowall, bta consulting, www.btaconsulting.co.uk

Indeed, even the member states, whatever their personal disagreements, seem to agree that beneath the disagreements on the EU Constitution, budgets and budget rebates, there needs to be an agreed way forward for the European Union. From the perspective of the continuing development of pan-European financial services and related regulation in particular, there are several immediate consequences.