This paper addresses the interlinking of Romania with European financial centers, from the perspective of European banking regulation, with the author focusing on the recent trends in the application of the two methods for the „passporting” of banking services, namely: (i) establishing branches in other member states of the European Union (EU) and (ii) directly providing cross-border services. The author argues that the full utilisation of Eur...

The article tackles the state and the evolution of the Internal Market, in particular the eternal tension between centralisation and unification on the one hand, and local diversity on the other. The argument presented here proceeds in three steps. First, the Internal Market remains a remarkably incomplete structure. Although quite elegant as a model on paper, the default requirement of mutual recognition is an unusually vague principle, the f...