T2S: Moving Toward a Capital Markets Union

The challenging journey of Europe's new settlement platform and the speculations on the changes it will bring

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In his 1996 book The Clash of Civilizations and the Remaking of World Order, political scientist Samuel P. Huntington describes how globalization transformed the socio-political and economic life of the world in the 20th century. While Huntington’s theory has been challenged since then, nations seemed unable to bear the burden of an interconnected world individually, forced to form alliances or unions. 

The obvious example, of course, is Europe. The European Union has been working toward a

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