These introduced various measures, including the ISDA Determination Committee, a body charged with making market-wide, binding decisions in the case of a credit event, and the requirement of market participants to use an auction settlement methodology rather than physical settlement.
And the weight that the EU (European Union) can bring to the table when negotiating on these kinds of issues is – as you may have guessed – the single market and its economic strength. 30 years after being established under this name, it is true to say that the European single market is more valuable to us today than ever before.