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Competition Policy

Financial services

The euro (II): Symbolic - 2001

Financial services is a sector of great importance to the EU economy. This sector includes the banking and insurance markets, which are integral parts of European citizens' lives, and the capital markets. These financial markets are the lifeblood of the real economy, giving businesses and consumers access to financial products. The better and more competitively they function, the better the economy will perform.

The financial services sector has been facing major challenges and opportunities in recent years leading to rapid and profound changes. EU competition policy with its three enforcement instruments – antitrust, merger and State aid control – plays an important role in ensuring that, given these circumstances, competition takes place on fair and equal terms throughout the financial sector and that disruptive technologies are developed and applied for the benefit of consumers and businesses alike.