This includes, as mentioned earlier, supporting risk capital markets and securitisation. 5. Concluding remarks  In conclusion, it is generally accepted that efficient financial structures contribute to increasing the potential for stronger non-inflationary economic growth. Therefore, the promotion of European financial integration and modernisation is highly relevant when aiming to strengthen economic growth in the European Union.
•  Increase in competition among banks could lower costs of transactions. •  Gaps in SME finance can be filled with asset and cash flow based lending, operating leases, and factoring. •  Issues of conflict of interest when a bank performs multiple functions would not arise, where differentiated licenses are issued.