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EU relies on capital markets union for green & digital companies
The EU is pushing forward the Capital Markets Union to promote investment in green and digital companies. Find out how this could affect competition with the US. #EU #Capital Markets Union #Investments #greenCompanies #digitalCompanies
EU relies on capital markets union for green & digital companies
At a summit in Brussels, EU heads of state and government agreed to push forward with the Capital Markets Union. The aim is to reduce bureaucratic hurdles between EU countries to give companies more opportunities to raise capital. In particular, more small investors should be encouraged to invest in European companies in order to provide capital for the green and digital transition.
The discussion about the Capital Markets Union received new impetus from a report by former Italian Prime Minister Enrico Letta. According to the report, private savings in the EU amount to 33 trillion euros, of which around 300 billion euros flow to the USA every year. This development is to be addressed by strengthening citizens' financial knowledge as well as harmonizing national rules for corporate insolvencies and increasing the efficiency of capital market supervision.
Chancellor Olaf Scholz emphasized the importance of a common European financial market to attract more private capital and strengthen competitiveness. Europe must overcome the insufficiently developed capital market in order to increase growth dynamics. In addition, there is discussion about allowing more state aid at EU level in order to compete with aid from other countries such as China and the USA.
The heads of state and government instructed the EU Commission to develop measures to reduce bureaucratic obstacles and improve cooperation between European supervisory authorities. This step is intended to increase the transparency and efficiency of the capital market and benefit companies and investors across the EU.