Europe’s finance watchdogs sound alarm over plan to deepen economic ties with San Marino, Monaco and Andorra

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Europe’s finance watchdogs sound alarm over plan to deepen economic ties with San Marino, Monaco and Andorra

Europe’s top finance regulators have warned that a proposal to grant a trio of microstates more access to the European Union’s single market presents a “fundamental risk” to the bloc’s financial integrity. In a joint letter, dated June 22, 2023, the chairs of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority outlined “strong concerns” about the “ongoing ne…