These currencies are simply administrative characteristics defining national economies.

这些货币体现了（欧洲）各国经济在管理方面的不同特征。
Administrative characteristics的意思是“管理方面的特征”。

…heterogeneous products with different ingredients, labels and packages.

…不同的产品由不同的原（材）料生产，有着不同的商标及包装。

This concept allows the creation of depositories in which securities are “dematerialized”

这一概念导致了存储票据的产生，这些票据使得有价证券失去了其“物质形态”。
Depositories意为 “存储票据”。
dematerialized意为“使…丧失物质形态”。

However, another important strain of research explains why one-factor changes such as the introduction of a single currency, have less of an impact that might at first be expected.

在此句中1）“another important strain of research explains”是主句；
2）“why one-factor changes such as the introduction of a single currency, have less of an impact that might at first be expected”是谓语动词 explains 的宾语从句，其中，“that might at first be expected”是个限制性的定语从句，修饰名词“impact”。

Indeed, Mr. Rangan predicts that although prices in the euro zone will indeed converge, they will do so more slowly than many people think, and mainly in areas where the cost to consumers of making a mistake are relatively low.

在此句中
1）“Mr. Rangan predicts”是主句
2）“that although prices in the euro zone will indeed converge, they will do so more slowly than many people think, and mainly in areas where the cost to consumers of making a mistake are relatively low”是充当谓语动词 predicts 宾语的从句，在宾语从句中：
（1）“although prices in the euro zone will indeed converge”是修饰动词“will do”的让步状语从句
（2）“than many people think”是比较状语从句，与“more slowly”一起表示比较
（3）“where the cost to consumers of making a mistake are relatively low”是个限制性的定语从句，修饰名词“areas”

But the market has shown that it can fulfill its function as a viable long-term alternative to the bank debt that has always dominated European financial intermediation.

在此句中
1）“the market has shown”是主句
2）“that it can fulfill its function as a viable long-term alternative to the bank debt that has always dominated European financial intermediation”是充当谓语动词“has shown”宾语的从句
3）“to the bank debt that has always dominated European financial intermediation”是介词短语，作定语，修饰名词“alternative”，其中 “that has always dominated European financial intermediation”是个限制性的定语从句，修饰名词“the bank debt”

Observers say reforms that at first sight appear to be relatively simple have turned out to be a nightmare because individual countries are so reluctant to remove any barrier that might reduce their importance in the overall financial system.

在此句中
1）“Observers say”是主句
2）“reforms that at first sight appear to be … in the overall financial system”是充当谓语动词“say”宾语的从句，其中
（1）“that at first sight appear to be relatively simple”是限制性的定语从句，修饰名词“reforms”
（2）“because individual countries are so reluctant to remove any barrier that might reduce their importance in the overall financial system”是原因状语从句，其中“that might reduce their importance in the overall financial system”是修饰名词“barrier”的限制性定语从句。

A report published in February this year by a committee chaired by Alexandre Lamfalussy, a former central banker, was endorsed at a summit held in Stockholm in March as a sensible basis for further efforts to integrate the capital markets, but for a variety of reasons has made little progress since.

此句虽然比较长，但它是个简单句。在此句中
1）“a report”是主语，连词“but”连接“was endorsed”和“has made little progress”两个并列谓语
2）“published in February this year by a committee chaired by Alexandre Lamfalussy, a former central banker”是个过去分词短语，作定语，修饰名词“a report”，其中“chaired by Alexandre Lamfalussy, a former central banker”是另一个过去分词短语，修饰名词“a committee”，作定语；“a former central banker”是说明“Alexandre Lamfalussy”身份的同位语
3）“held in Stockholm in March”又是一个过去分词短语，作定语，修饰名词“a summit”
4）“as a sensible basis for further efforts to integrate the capital markets”是介词短语，作补语，补充说明作为被动结构“was endorsed”的主语“a report”
5）“for a variety of reasons”是个介词短语，修饰另一个谓语动词“has made”

It is particularly moot where the two legal systems overlap, as they do every time a money manager in London trades with one in Frankfurt.

在此句中
1）“It is particularly moot”是主句
2）“where the two legal systems … one in Frankfurt”是地点状语从句，其中
“as they do every time a money manager in London trades with one in Frankfurt”是方式状语从句，修饰“overlap”，在方式状语从句中含有一个以“every time”引导的时间状语从句“every time a money manager in London trades with one in Frankfurt”，修饰“do”

The problems of integrating capital markets can all too easily appear unconnected to the daily needs of European businesses.

在此句中，副词短语“all too easily”修饰充当连系动词的“appear”，表示方式；过去分词“unconnected”作连系动词“appear”后面的表语，对主语“the problems of integrating capital markets”进行说明；介词短语“to the daily needs of European businesses”作状语，修饰“appear”，表示对象。

But it does not want cheques to be included in the regulation, arguing that these are an inefficient payment mechanism that should be discouraged even at local, let alone cross-border, level.

在此句中
1）“it does not want cheques to be included in the regulation”是主句
2）“arguing that these are an inefficient payment mechanism that should be discouraged even at local, let alone cross-border, level”是现在分词短语，作伴随状语，表示和“does not want”同时发生的动作。其中
（1）“that these are an … level”是充当“arguing”宾语的从句
（2）“that should be discouraged even at local, let alone cross-border, level”是限制性的定语从句，修饰名词“payment mechanism”

If they do, they will have to generate considerable political will across a number of areas, particularly retail financial services, which currently suffers from a serious lack of pan-European spirit.

在此句中
1）“they will have to generate considerable political will across a number of areas, particularly retail financial services,”是主句，其中“across a number of areas, particularly retail financial services”是地点状语从句，修饰谓语动词“will have to generate”
2）“If they do”是条件状语从句
3）“which currently suffers from a serious lack of pan-European spirit”是非限制性定语从句，对a number of areas, particularly retail financial services进行补充说明。