Promoting a free market by ending the S ingle M arket – reforming EU financial regulation

The development of the S ingle M arket in the EU – and the extension of its principles to the EEA – has led to dangerous trends in bank regulation as there is a ‘disconnect’ between regulation and deposit insurance systems. Although these problems do not exist in insurance markets to any great extent, S ingle M arket regulation gives rise to other problems in that sector. In particular, it is restricting free trade both within and between countries. We propose a radical new model that would promote free trade without centralisation.