But in general, more deeply integrated global financial markets – accompanied by sound regulation to avoid negative spillover effects and financial contagion when the going gets tough – might be an answer to the challenges which Asian economies are currently facing.
This is because,  2  BIS central bankers’ speeches  at the end of the day, the European capital markets union is implementing the well-known principles of good financial sector governance. Simple though this may sound, the European capital markets union shows us that putting these principles into practice will be far from easy.