Creating and Governing an Integrated Market for Retail Banking Services in Europe

A Conceptual-Empirical Study of the Role of Regulation in Promoting a Single Euro Payments Area

by Matthäus Markus Sielecki (Author)
©2011 Thesis XXII, 304 Pages


The creation of the Economic and Monetary Union (EMU) has accelerated the harmonization process of regulation and governance in Europe. However, the integration of fragmented retail banking markets still represents a difficult task for regulators. This book investigates the role of EU policy in creating a single market, addressing explicitly questions on the choice of policy measures to overcome barriers to integration persistent in these markets. Based on an analysis of different regulatory theories, the author develops a conceptual framework and illustrates its applicability to the case of the Single Euro Payments Area (SEPA) initiative. The fact that a single market has not yet evolved is less a sign of market or coordination failures than of government failures. The author concludes that, despite the political resistance from national interest groups, regulatory barriers need to be removed first to provide a level playing field for banks and a safe legal environment for consumers.


XXII, 304
ISBN (Hardcover)
Publication date
2012 (June)
Market integration Economic and Monetary Union Payment Systems
Frankfurt am Main, Berlin, Bern, Bruxelles, New York, Oxford, Wien, 2011. XXII, 304 pp., num. tables and graphs

Biographical notes

Matthäus Markus Sielecki (Author)

Matthäus Sielecki has worked for a large German bank as an analyst and manager on various international strategy, reorganization and post-merger integration projects. He has carried out several management roles in the commercial banking business and developed a broad expertise in the fields of payments and EU regulation. Besides his career in banking, he pursued and received the Doctor of Economics from the European Business School (EBS) at Oestrich-Winkel in Germany.


Title: Creating and Governing an Integrated Market for Retail Banking Services in Europe