Europe: Unions are overrated

Author: | Published: 20 Apr 2016

So much talk from the top today is about regulatory convergence. Since long before the crisis, far-reaching, global rules have been set with the idea of bringing markets closer together. There's a school of thought that fully supports having the same rules set by the same rulemakers, from Ottawa to Auckland.

The US is often hailed as a sterling example of how it can work. There's no denying that Europe's capital markets, for one, have struggled to compete with the unified, streamlined single market across the Atlantic that rebounded post-crisis with...