Facts of Life About the Integration of National Capital Markets.

The article examines the problems in the integration of National Capital Markets in Europe. The article discusses the categories of obstacles including the favoring of investment at home over investment abroad, protection of the balance of payments, and the autonomy of national monetary and financial policies. The author states that the development of the Euro-bond market is being used as a substitute for genuine integration. The article also discusses the limitations in the progress of national capital markets.