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Developing Intra-regional Exchanges through the Abolition of Commercial and Tariff Barriers / L’abolition des barrières commerciales et tarifaires dans la région de l’Océan indien

Myth or Reality? / Mythe ou réalité ?

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Edited By Stéphanie Rohlfing-Dijoux

This book is related to the development of intraregional commercial exchanges in the region of the Indian Ocean. This issue is addressed from an economic as well as from a legal point of view. The contributions, in English and French, aim to present an overview of the economic, customs-related, technical, legal and cultural restraints that hinder the creation of a free trading area.

Cet ouvrage est consacré au développement des échanges commerciaux intrarégionaux dans la région de l’Océan Indien. Cette question est examinée sous un angle politique, économique et juridique. Les différentes contributions, en anglais et en français, visent à établir un état des lieux des freins économiques, douaniers, techniques, juridiques et culturels à la création d’un espace de libre échange.

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The Free Flow of Financial Services in Europe and the Access of Non-European Financial Service Providers to the European Market (Johannes Kappler)

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The Free Flow of Financial Services in Europe and the Access of Non-European Financial Service Providers to the European Market

Johannes KAPPLER

The article discusses the present degree of integration of the European Internal Market for financial services, as well as the regulations on access for third country firms to the European market. Within this scope the development of the regulation on financial markets supervision in the European Union is of outstanding importance. Especially in border regions of the European Union the subject of market access raises several questions regarding juristic, political and economic barriers of the free flow of financial services. Triggered by the financial crisis and the Euro Monetary Crisis on the European level there developed the political will to overhaul European financial markets regulation, with the objective of a consistent supervision of market participants. The economic impact of the crisis revealed, that systemic risk not only is of relevance for national markets, but also for the transnational and even global economy. Important achievements of the EU financial markets economy have been the establishment of the European System of Financial Supervision, and in the banking sector the building of the European Banking Union. These amendments indicate the political will to assign supervisory competences to the European level. This leads to profound consequences for regulation and supervision of third countries. Consequences from this can inter alia be seen in the new regulations of third country access throughout MiFID II and MiFIR...

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