Europe urgently needs to make progress in creating a capital markets union in the face of looming trade conflicts, European Central Bank chief Christine Lagarde warned on Friday. The proposed Capital Markets Union (CMU) is "key for becoming more resilient in a fragmenting world economy," Lagarde told the European Banking Congress in Frankfurt. "Capital markets are the missing link for Europeans to turn their high savings into greater wealth – which will ultimately enable them to spend more and s
Not the way I understand it. It’s integrating the Financial markets more. The more unified the EU is, the more of a fight we can put up against the US and China (and probably soon India).
Quite honestly, I don’t think it makes sense to be naïve about the plans of power players like Lagarde. I’d bet money that deregulation is a major component of this.