Written for undergraduate and graduate students of finance, economics and business, this textbook provides a fresh analysis of the European financial system. Combining theory, empirical data and policy, it examines and explains financial markets, financial infrastructures, financial institutions, and challenges in the domain of financial supervision and competition policy. Key features:Designed specifically for courses on European financial integrationClear signposting and presentation of text with learning objectives, boxes for key concepts and theories, chapter overviews and suggestions for further reading Broad coverage of European financial system – markets, infrastructure and institutions Explains the ongoing process of financial integration, in particular the impact of the euroExamines financial systems of new member statesUses up-to-date European data throughout A companion website will be available with exercises and freely downloadable solutions.

‘A quarter of a century ago, the European financial system consisted of segmented national markets and institutions. The process of creating a single unified system has made considerable progress but still has some way to go. This book provides an excellent account of why this process is important, the current situation, and how it will proceed in the future. It is very well suited for its target audience of advanced undergraduates and Masters students and will be useful to all those interested in the topic. I highly recommend it.’

Franklin Allen - Wharton School, University of Pennsylvania

‘Now that an integrated European banking and financial system has become established, there is a need for a book to describe and to analyse its working. The authors, who have great experience in the practical, regulatory and academic aspects of their subject, do this admirably, clearly and succinctly. This will be an invaluable textbook for all students of European banking and finance.’

Charles Goodhart - London School of Economics