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