Lagarde: Follow the money: channeling savings into investment and innovation in Europe

From ecb.europa.eu

At last year’s conference, I spoke about Europe’s fragmented capital markets and the urgent need for us to integrate them. The main thrust of my argument was that Europe was facing transformative changes that came with huge financing needs, and that we would not succeed without mobilising private capital much more effectively. I called for a “Kantian shift” in how we approach the capital markets union (CMU) project, moving away from bottom-up harmonization to top-down integration. But as Martin Luther King said, “we are now faced with the fact that tomorrow is today.” And in that time, the urgency to ... (full story)