The Eurogroup has now signed-off on its statement on the future of CMU. All perfectly reasonable stuff, but perhaps not the stirring rallying cry for action during the next mandate that it could have been (and that we need).
The 'ABC' framing is a slightly forced rhetorical device, but it does capture three key themes pretty well. The 'Architecture' section rightly notes that some really thorny issues around tax or insolvency are becoming increasingly hard to ignore; the 'Business' strand reminds us that EU innovators, SMEs, and corporates need access to diverse sources of funding if they're to grow and / or to avoid being swallowed up by overseas rivals; and the 'Citizens' section explains in stark terms that households need "easier access routes to a larger choice of investment possibilities".
There are a few welcome specifics in there (I particularly liked the invitation to the Commission to keep a close eye on how the soon-to-be-adopted EU Listing Act performs in practice, so that we can make further changes if needed), but overall it's another policy statement that offers a very good diagnosis of the malady afflicting the EU capital markets, but doesn't really signal a step-change in the will to deliver the cures.
https://lnkd.in/dRDmbCih
Senior Account Consultant - Specialist in both Permanent & Contract recruiting for the Defence and Aerospace sectors.
1moWas great fun and created a good vibe in the office