This issue of Economic Policy contains papers of which earlier drafts were presented and discussed at the October 2008 Panel Meeting, hosted in Paris by the Banque de France. In this editorial introduction we outline how they contribute new insights, perspectives and information to the current policy debate. Financial markets have attracted a lot of worried attention in 2008 and 2009 because of the ongoing financial crisis. Last year marked also the tenth anniversary of the Economic and Monetary Union (EMU), which has transformed Europe, opening the possibility of a fully integrated European financial market. We publish in this issue papers that focus on very topical aspects of financial market integration in Europe, offering useful insights into current problems and possible solutions. We also address the issue of how appropriate labour market reforms can raise productivity and economic growth in Europe.
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