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European capital markets with a single currency, an overview

Author: Dermine, Jean INSEAD Area: Finance Series: Working Paper ; 98/17/FIN Publisher: Fontainebleau : INSEAD, 1998.Language: EnglishDescription: 52 p.Type of document: INSEAD Working Paper Online Access: Click here Abstract: At the Madrid summit in December 1995, the EU heads of state or government endorsed a threephase plan for the introduction of the single currency. The purpose of this introductory chapter is to identify the various ways through which a single currency could alter fundamentally and permanently european capital markets. A common currency, will likely change the sources of competitive advantage in various markets such as those of government bonds and equities of foreign exchange and of fund management. The potential benefits derived from the creation of a leading international currency are discussed and the impact of a single currency on credit risk is evaluated
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At the Madrid summit in December 1995, the EU heads of state or government endorsed a threephase plan for the introduction of the single currency. The purpose of this introductory chapter is to identify the various ways through which a single currency could alter fundamentally and permanently european capital markets. A common currency, will likely change the sources of competitive advantage in various markets such as those of government bonds and equities of foreign exchange and of fund management. The potential benefits derived from the creation of a leading international currency are discussed and the impact of a single currency on credit risk is evaluated

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