Abstract
The working of European Union was expected to be similar to the United States of America. Theorists believed that Europe will have a financial hub similiar to the Wall Street in the United Sates and questioned the future of the European Union. Establishing inter-market deals among the European stock exchanges (E.g. the creation of Euronext) seems to be the first move towards creating a global European stock exchange. However, the national interests and the needs of a country's economy is a major factor of concern. However, this will not affect the position of Europe in the financial world, even with the emergence of the Asian financial markets.
