Promoting a free market by ending the Single Market – reforming EU financial regulation

In: Economic affairs: journal of the Institute of Economic Affairs, Band 32, Heft 3, S. 24-31

Abstract

The development of the Single Market in the EU – and the extension of its principles to the EEA – has led to dangerous trends in bank regulation as there is a 'disconnect' between regulation and deposit insurance systems. Although these problems do not exist in insurance markets to any great extent, Single Market regulation gives rise to other problems in that sector. In particular, it is restricting free trade both within and between countries. We propose a radical new model that would promote free trade without centralisation.