Abstract
For the past half century, European countries have moved to harmonize their economies. While there has been a push for a single banking market in Europe, the 25 European Union (EU) countries have still not achieved full harmonization. The purpose of this study is to explore similarities and differences in country-specific banking system attributes between member nations in the EU that have adopted the Euro and those that have not. We find evidence suggesting that the currency adoption decision is related to the level of market disclosure and openness. In general, countries that have adopted the Euro have the strongest quality of information and greatest protection against the exploitation of banking entities.