JCT: I don’t think that it is disputable, frankly speaking, that in terms of ideas, in terms of reference to political democracy and human rights on the one hand and of market economics on the other hand the handful of countries that have started European Union have won.
This dynamic brings new challenges, particularly that of divergence, where a lack of consistency in approaches risks undermining the collective effectiveness of regulatory frameworks, especially in the context of capital markets, given their global nature.