ECB’s Nagel and Villeroy Urge Progress on Capital Markets Union
- CMU would boost stability and the economy, central bankers say
- Cross-border financial links seen as key to strategic autonomy
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Germany and France’s central bank chiefs called on governments to step up efforts to complete European plans for a capital markets union in a bid to spur investment and remove cross-border barriers.
The European Union first began working on a continent-wide financial system in 2015, but progress proved sluggish despite several attempts to inject new impetus.