As Prepared for Delivery
June 15, 2023
IMF Background Note on CMU for Eurogroup
Colleagues, we continue! My thanks to Paschal for inviting me to speak on European capital markets. Definitely a topic close to the IMF’s heart.
Let me put the bottom line at the top: Europe absolutely needs capital market union. To create more choices for savers and real investors. To mobilize funding for innovation. To drive a convergence in the cost of funds across the union. To enhance resilience through greater private cross-border risk sharing. And, quite frankly, to catch up with the US on productivity and growth.
Nowhere is the need greater than in the Green Transition. This is existential: either we invest in economic change and slash our emissions,…
Read the full article at: https://www.imf.org/en/News/Articles/2023/06/15/sp061523-md-remarks-on-european-capital-markets