Regulators, bankers and consumers are preparing for the expected integration of financial markets within the wider goal of a Single European Market by 1992 or some later date. Whether the 1992 deadline is met or not, financial markets will dramatically change to the point of bearing little resemblance to what they used to be. Elsewhere it was argued that whilst the overall economic benefits may not be all that overwhelming, the effect on financial institutions risks to be just that (Steinherr and Gilibert, 1989). Hence it is of paramount importance for financial institutions to understand the implications of financial market liberalization and integration to be able to prepare and adapt.
Steinherr, A., & Huveneers, C. (1990). Universal Banks: The Prototype of Successful Banks in the Integrated European Market? A View Inspired by German Experience (Working Papers Institut des sciences économiques 9001). https://hdl.handle.net/2078.5/281066