Its been more than 20 years since plans for a single financial services market in Europe first took shape, but progress has been limited, inhibited by national interests and a heterogeneous marketplace, characterised by differing rules and regulations.
Figures for cross-border personal financial services show how limited it is. The share of consumers who have bought banking products from another member state is less than 3 per cent for credit cards, current accounts and mortgages; only 5 per cent of consumer loans have been obtained cross-border; and cross-border insurance accounted for only about 3 per cent of total gr…
Read the full article at: http://www.irishtimes.com/business/personal-finance/could-irish-people-save-money-by-looking-overseas-for-loans-or-deposit-accounts-1.2509802
