This volume examines the future of European financial centres in the context of economic and monetary union (EMU). Based on original empirical research, it investigates the relative competitiveness of European financial centres, with special reference to London and Frankfurt, in the context of the single currency debate. Issues covered include: * the evolution of financial centres * optimal design of an international financial centre * financial services regulation and EMU * the competitiveness of world financial centres

Kirsten Bindemann is a Research Fellow at the Oxford Institute for Energy Studies, having previously lectured in economics at the Free University, Berlin and the University of Bristol

1 Introduction 2 The emergence of financial centres 3 On the optimal design of an international financial centre 4 The rules of the game: Regulation of financial services 5 A game theory approach to financial centres 6 Conclusions: Some implications for London and Frankfurt 7 Epilogue: Recent developments