Financiers Back Single Market


Leading European banks and insurers have formed a discussion and lobbying group to support the completion of the single market in financial services. The European Round Table of Financial Services has been founded by the chairmen and chief executives of 12 European financial institutions, but more will be invited to join. The first chairman of the round table is Pehr Gyllenhammar, who is chairman of CGNU, the UK's largest insurance group. A former executive chairman of Volvo, Mr Gyllenhammer was involved in the formation of a similar forum of industrialists in 1983, which has 45 members and has campaigned for the creation of the single market. He said: "We are all convinced of the importance of supporting the completion of the single market in financial services which will bring substantial benefits for consumers by promoting competition and consumer choice."



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