The EC has published a report on the importance and urgency of financial sector reforms as a basis to restore long-term growth.

This Report:

  1. shows that European proposals for the establishment of a banking union stem from the need to deepen economic and financial integration in Europe.
  2. covers the main policy initiatives that have been or are being implemented, adopted, presented, or developed in 2012;
  3. takes account of the important debate surrounding the analysis of the different business models of the financial institutions;
  4. describes the progress in regulating the over-the-counter (OTC) derivatives markets; and
  5. underscores the pivotal role the financial sector has in supporting the real economy and in providing jobs and growth for society.