Concluding remarks Ladies and gentlemen, The completion of the single market in the domain of financial services is absolutely crucial as an integral and highly significant part of the achievement of the single market in the sector of services in general.
We know now that the gap between the yearly productivity progress of Europe and the US and therefore the growth potential on both sides of the Atlantic is mainly due to the service sector. What is true for the European Union as a whole is particularly true for the euro area where the single currency both facilitates and calls for a complete financial integration.