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Currently, the single market has had disappointing results in this industry, largely because of the second banking directive, which was agreed to in 1992, has only recently come into force. With this the EMU would rationalize the banking system and deliver a cheaper and better service with wider choice: the customer will be the ultimate beneficiary, though there could be job losses in certain traditional sectors such as branch banking (Business Week, 32)...
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Currently, the single market has had disappointing results in this industry, largely because of the second banking directive, which was agreed to in 1992, has only recently come into force. With this the EMU would rationalize the banking system and deliver a cheaper and better service with wider choice: the customer will be the ultimate beneficiary, though there could be job losses in certain traditional sectors such as branch banking (Business Week, 32)...
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