Europes conflicting insolvency rules create uncertainty among investors, discourage cross-border investment and delay the restructuring of companies facing financial difficulty, writes Paul McGhee. Ironing out these inconsistencies will give businesses a better chance of bouncing back and deliver growth to the real economy, he argues.
Paul McGhee is Director of Strategy at the Association for Financial Markets in Europe (AFME).
The Single Market is Europes major achievement and a project which still has much to contribute. On the financial services agenda, the European Commission has an ambitious agenda to build a banking union and a capital markets union. Reforming insolvency law in Europe would serve both ends, …
Read the full article at: http://www.euractiv.com/section/banking-union/opinion/a-chapter-11-law-for-europes-entrepreneurs/