Financial System of the European Union

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Financial System of European Union|
Capital Markets & Financial Institutions|

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TABLE OF CONTENTS

1. The Enlarged European Union of 27.......................................................................................3 a. Introduction.......................................................................................................................3 b. A Brief Explanation Economy in EU...............................................................................3-4 2. The Banking System...............................................................................................................4 a. History of Banking...........................................................................................................4 b. The Role of Banks in EFS...............................................................................................4-5 c. Economic Environment....................................................................................................5-6 d. The European Central Bank

e. The European Investment Bank............................................................................................6 3. The Capital Markets...............................................................................................................7 a. London Stock Exchange..................................................................................................7 b. Frankfurt Stock Exchange...............................................................................................7 c. Euronext Paris.................................................................................................................8 4. The Importance of Other Financial Corporations..................................................................8-9 5. Comparing the EU with the US and Japan............................................................................9 6. References. ............................................................................................................................10 7. Tables and Graphics.............................................................................................................11-19

1. The Enlarged European Union of 27
2.1 Introduction:
The European Union (EU) is a unique economic and political partnership between 27 countries that together cover much of the continent. It was created in the aftermath of the Second World War. The first steps were to foster economic cooperation: the idea being that countries that trade with one another become economically interdependent and so more likely to avoid conflict. The result was the European Economic Community (EEC), created in 1958, and initially increasing economic cooperation between six countries: Belgium, Germany, France, Italy, Luxembourg and the Netherlands. Since then, a huge single market has been created and continues to develop towards its full potential. (Table 1) But what began as a purely economic union has also evolved into an organisation spanning all policy areas, from development aid to environment. A name change from the EEC to the European Union (the EU) in 1993 reflected this change. One of its main goals is to promote human rights both internally and around the world. Human dignity, freedom, democracy, equality, the rule of law and respect for human rights: these are the core values of the EU. 1.2 A Brief Explanation of Economy in EU:

At its birth, the EU was made up of distinct national economies. Goods moving across borders were stopped for paperwork and to pay customs duties. Today, by contrast, the EU is essentially a single economy. Goods move freely across national borders. In addition, people, money and service providers are free to move around and to operate across the EU with a degree of freedom that would have been hard to imagine 50 years ago. All this has been achieved by steadily breaking down the...
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