European banks will be kept completely separate from European securities firms and insurance companies under the terms of the Maastricht Treaty and the integrated European Community (EC).

Question

Quizplus · Accepted Answer

The Maastricht Treaty and the integrated European Community (EC) framework do not mandate the complete separation of European banks, securities firms, and insurance companies. Instead, they have moved towards a more integrated financial services sector, allowing for the operation of financial conglomerates that engage in a combination of these activities.

European Banks Will Be Kept Completely Separate from European Securities