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EU capital markets have changed radically over the past 20 years. In the 1980s, countries had their own financial industries and rules. Now there is one 'Champions League' of banks, and member states have transferred crucial regulatory powers to Brussels. Drawing on policy documents and more than fifty in-depth interviews, Widen the Market, Narrow the Competition argues that financial industry interests have been key to this power shift. Continental banks initially feared a single European market, and governments followed their protectionist impulses. In the 1990s the mood changed, and the...