One of the most interesting issues during the introduction of the euro, and also in the following years, was that of inflation caused by adopting the currency. Because I spend so much time in Croatia in a personal capacity, I have a feeling that the same thing is also happening here.
The fact that current legislation and legislative proposals are so different in content and scope partly reflects these problems. In the US, the Volcker Rule seeks to prohibit proprietary trading by banks and places severe restrictions on certain forms of investment. In the UK, the Vickers proposal seeks to ring-fence deposit-taking and the provision of credit facilities in legal, organisational and operational terms.