Europe needs to think bigger to build its capital markets union

From ecb.europa.eu

Central to this strategy is the creation of an integrated European capital market — a vision set out by the European Commission in 2015, and commonly known as the capital markets union (CMU). A fully functioning CMU would both enhance Europe’s economic structure and benefit the euro area. It would do this in three main ways: It would allow us to reap the benefits of euro area-wide capital markets, and facilitate greater risk-sharing across member countries. At present, barriers between national markets are deterring cross-border investment, leaving European firms and households largely reliant on national ... (full story)