But our system of regulation must keep up with this. If it fails to keep up, it will hold back economic expansion. We need financial market regulation that works at national and European level.
Financial service providers act as the lubricating oil in the economy. They link consumers who want to invest their savings for a good return with companies who want to borrow on best terms for expansion.
Indeed, American companies make three times as much profits from their investment in one E.U. country, Ireland, than they do from all their investments in China.
Of course the EU and member states must work to ensure that people moving from one country to another understand their obligations and their rights in areas like health, road safety and further education.
Proliferation of nuclear weapons to terrorist organisations is far more dangerous than proliferation of nuclear weapons to states, even states like North Korea.
The E.U. has moved to combat global terrorism by instituting common European arrest and evidence warrants and creating a joint situation center to pool and analyze intelligence.
The E.U. is more than just a trade organization or a common market; it is a guarantee of democracy, freedom, justice, and human rights. Nations cannot stay in the E.U. if they do not respect these guarantees.
