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| Author: | Ferguson, N. |
| Title: | Siegmund Warburg, the City of London and the financial roots of European integration |
| Journal: | Business history
2009 : MAY, VOL. 51:3 p. 364-382 |
| Index terms: | banks government bonds international capital market economic history England |
| Language: | eng |
| Abstract: | The process of European economic integration slackened in the 1960s. National markets for goods, most services and labor were not being integrated because they were not really being liberalized. Financial services were an exception to this rule. The rise of the so-called "Eurobond" market was a major breakthrough in this integration but it was a largely spontaneous result of innovation by private sector actors, led by Siegmund Warburg. The resurrection of London as Europe's principal financial centre, even at a time of economic and exchange rate weakness, was a great achievement in those days. It was also crucial for the resumption of European integration in the 1970s. |
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