Could a Capital Markets Union Fix Europe’s Banks?
European Commission Director General for Financial Stability, Financial Services and Capital Markets Union Olivier Guersent joins Bloomberg’s Manus Cranny and Anna Edwards on “Countdown” to discuss the outlook for European banks. The European Commission's plan to build a single EU market for capital, in the form of a Capital Markets Union, is ambitious. If successful, the union will yield many opportunities for cross-border investors and provide small- and medium-sized companies with better access to credit. However, there are many obstacles, including divergent tax, bankruptcy and pension laws.