The historic recession, geopolitical tensions and the imminent exit of Great Britain from the single market bring to the fore a sea serpent of European construction: the union of capital markets.
“We have 27 capital markets that are neither fully developed nor fully integrated. This is particularly crucial at the time of Brexit, as Europe's largest financial hub leaves the single market. And it is a real problem if we see how companies in the United States are fighting on the capital markets, ”
argues Valdis Dombrovskis, executive vice-president of the European Commission in charge of financial services.
The enormous financing needs of companies linked to the Covid crisis add to the
“urgency”
of an adequate European response.
Read also:
Brexit: Brussels grants a reprieve to the City
However, it is not with the wave of a magic wand that an atomized landscape will harmonize overnight.
If the large market for goods and services (associated
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