Capital markets union faces ‘death by a thousand cuts’ – Lagarde
ECB president tears into European leaders’ inaction over innovation and wealth creation
The piecemeal, bottom-up approach to harmonising national frameworks to enable EU-level capital flows is failing, the president of the European Central Bank (ECB) has said.
Christine Lagarde told the European Banking Congress today (November 22) that the capital markets union (CMU) faced “death by a thousand cuts”. She said “vested interests oppose or dilute each piece of legislation”, while Europe was continuing to fall behind the US in investments. This, she said, was happening even though
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