“Europe is at the center of the crisis: that of the Russian war in Ukraine, that of energy, that of inflation,” write François Villeroy de Galhau, governor of the Banque de France and Joachim Nagel, president of the Bundesbank in this forum posted on the websites of the echoes Y handelsblatt.
“Our unity becomes more difficult, but even more essential. And what applies to all of Europe applies first and foremost to the Franco-German couple: to divide us would be to condemn us”, they believe while relations between Paris and Berlin. they have slipped in the last few weeks.
“The time has come for a true capital markets union,” they say.
Sea snake
The Capital Markets Union (UMC), a sea serpent since 2014, is a single European capital market project that aims to promote its circulation among member countries to finance companies more broadly and especially start-ups and smes.
“Events such as Brexit, the pandemic or, more recently, Russia’s war in Ukraine have regrettably delayed the efforts made in this area”, underline François Villeroy de Galhau and Joachim Nagel.
“On the contrary, more than ever we must accelerate the energy transition and for this reason we need the financial resources that a green UGC provides us,” according to them.
CMU green
“The CMU can be an asset in a joint European strategy aimed at competing with other regions of the world”, they add, believing that “in order to stimulate growth, while ensuring green and digital transformations, we must reinforce our attractiveness both for the national market as for the foreigner. investors
“Therefore, we support the establishment of a European Single Access Point (ESAP) as an information platform for international investors,” they write.
The WBU should also offer “an opportunity to significantly improve (the) financial situation” of the “young shoots”, they allege.
“When it comes to accessing capital markets, small and medium-sized enterprises (SMEs) in particular need to catch up,” they also say.
Source: BFM TV
