The European Union has long sought to create a single financial areaacross Europe where consumers in one country benefit from financialmarkets and activities in other countries. With the emergence of theInternet as a platform for the provision of online banking services, thecreation of a pan-European market for banking services appeared arealistic proposition. In practice, however, this has not happened. Thisbook asks why and argues that the creation of banking markets via theInternet relies on both available technologies and appropriate laws andregulations. The institutional and legal framework for online bankingservices in the single European market are examined, as is the level oflegal harmonization achieved in the UK, France and Germany underthe influence of the EU Directives pertaining to online bankingactivities.
Apostolos ath. Gkoutzinis is an Associate in the CapitalMarkets Group of the London oYce of the international law firmShearman & Sterling LLP. His practice includes providing legal adviceto investment banks and major corporate clients regarding equity anddebt securities oVerings and other complex capital market transactions,exchange listings, corporate governance and other corporate matters.Prior to joining the firm, he was Lecturer in Financial Law and JointAcademic Director of the MSc Programme in Finance and FinancialLaw at the School of Oriental and African Studies (SOAS), Universityof London. He also held a Teaching and Research Fellowship at theCentre for Commercial Law Studies at Queen Mary, University ofLondon. He is admitted to practise law in the State of New York,England and Wales, and Greece.