Six EU states push faster capital markets integration
Germany and five other EU countries aim to move faster on key policy questions, including on how to harmonize capital market rules, said German Finance Minister Lars Klingbeil.
“I still believe that the pace we’re currently experiencing at the European level is not commensurate with the challenges we face as Europe,” Klingbeil said in Brussels on Monday after a meeting with the finance ministers of France, Italy, the Netherlands, Poland and Spain.
“We want solutions for all of Europe, and that is what the six of us are working on” with “the goal of strengthening Europe’s sovereignty and making Europe strong especially in these turbulent times, and working to ensure that we also play a stronger role internationally.”
Monday’s meeting focused on accelerating work on the so-called capital markets and the savings and investment unions.
EU leaders discussed last week reducing red tape and connecting EU capital markets better to create a better environment for businesses after efforts have been largely unsuccessful for years.
Currently each EU member state has its own capital market with its own rules, including for the legal structure of companies, tax regulations and its own financial institutions such as stock exchanges and banks.
