‘The path to hell is paved with good intentions’, a policy-maker told OMFIF, as European Union institutions get ready to again tackle a notorious lacuna in Europe’s single market: financial services. Recent regulatory skirmishes on the supervision of cryptoasset service providers have offered an amuse-bouche for Europe’s latest attempt to create a single financial market. The savings and investment union initiative, another stab at capital markets union, would help mobilise the €800bn per year deemed missing in former European Central Bank President Mario Draghi’s warning about the lack of capital investment in the ... (full story)