The Wise Men’s journey: where should they go?

This year has witnessed tremendous change in European financial markets, from the launch of the euro and the publication of the EU Financial Services Action Plan to consolidation amongst equity exchanges and heightened competition from alternative trading systems. In this article Michael McKee offers the British Bankers’Association perspective on 12 hectic months.

Michael McKee, Director, British Bankers Association

Enormous change is sweeping Europe’s financial markets. In 1995 Pen Kent, then a director of the Bank of England, warned that coming change would be more significant for UK financial markets than the City’s Big Bang in 1986. He has been proved right.