A banking raid in Europe kicks up an unseemly nationalist defence
Der Italian banking job goes down badly in Germany
Move from one European Union country to another and most of your stuff will continue to work quite well. A car bought in Poland will still be considered roadworthy in Portugal, thanks to a single set of regulations (though new plates and insurance will in time be needed). Much the same appliances are sold in Sweden as in Greece, given standardised plugs and voltages. With a little fiddling, a Spotify subscription can be made to work too. But using a bank account opened in one EU country while living in another is surprisingly troublesome, even if both use the euro. In theory Europeans, like their American cousins, live in one large single market, free to contract services from business based anywhere in the bloc. In practice payment systems sometimes accept only cards issued by local banks—and good luck getting your Finnish bank to fund a Spanish mortgage. Finance is where the European ideal of a seamless union often falls shortest.
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This article appeared in the Europe section of the print edition under the headline “Der Italian job”
Europe September 28th 2024
- Turkey and Central Asia are riding together again
- Austria’s xenophobic right edges towards victory
- France’s new coalition yanks the country a step to the right
- Turkey wants the EU to regulate the döner kebab
- American long-range missiles are coming back to Europe
- A banking raid in Europe kicks up an unseemly nationalist defence
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