译文（字数 3103）：

欧洲零售银行一体化对中小企业融资影响的概述

摘要

考虑到过去几年中，欧洲联盟（EU）已经成为世界上最有竞争力的综合经济区域之一，随着它的快速发展出现了一系列的举措。银行和其他金融服务立法的协调统一是欧盟单一市场的重要组成部分，欧洲经济和货币联盟（EMU）的创新，与正在贯彻进行的金融服务行动计划（FSAP）都表明了金融一体化的进一步实施，这有助于减少跨国贸易在银行服务业的障碍。而放松管制是另一个因素，使得环境的技术和其他银行的战略决定因素变得越来越重要。

本文的范围是分析了一个更高程度的银行整合对企业融资的选择和影响。本文由两个主要部分组成。第一部分主要是对欧洲银行业一体化的决定因素进行分析，这一分析是因为银行体系是中小企业和家庭的主要金融渠道。第二部分集中于银行整合对实体经济的影响。结论性的言论，零售银行的整合在论中小企业的信贷方面有一个模糊的含义。

关键词：零售银行一体化，中小企业，企业融资，金融约束，放松管制

外文原文（字符数 10451）：

The Implications of European Retail Banking 

Integration on Small and Medium-Sized 

Enterprises Financing. An Overview 

Anton Sorin Gabriel, Avadanei Andreea 

Abstract

Considering the last few years, the European Union (EU) has became one of the most competitive and integrated economic regions of the world, following a rapid pace of change as a result of an inspired series of initiatives. The harmonization of the banking and other financial services legislation as component of the EU’ Single Market, the creation of the European Economic and Monetary Union (EMU), alongside the ongoing implementation of the Financial Services Action Plan (FSAP) represent the central drivers of financial integration and the set of elements that have helped reducing the barriers to cross-border trade in banking services. The process of deregulation is another element that facilitated the environment in which technology and other bank strategic determinants have become increasingly important. 

The scope of the present paper is to analyze the implications of a higher degree of banking integration on firms financing options and choices. This paper is composed of two main parts. The first part focuses to the determinants of European banking integration, analyzing this process since the banking system represents the main financial channel for both the small and medium-sized enterprises and households. The second part concentrates on the effects of banking integration on considered entities’ financial constraints. The concluding remarks outline that retail bank integration has an ambiguous implication on SMEs’ access to credit. 

Keywords: retail banking integration, SMEs, firms’ financing, financial constraints, deregulation. 

JEL Classifications: G21, G32.