Summary of Light and Shadows in Europe’s New Action Plan for Capital Markets Union
The European Union’s proposal for a single capital market across Europe lacks vision and specifics.
Reformers always struggle with the question of whether to aim high or low in their proposals for change. While aiming low is often a surer route to success, the European Union has had a tradition of aiming high and succeeding nonetheless. Yet the bloc is approaching a single capital market with too much caution, according to economist Diego Valiante. getAbstract recommends his erudite call for more boldness in capital reforms so that EU firms and professionals can compete in a uniform market for investments and capital.
In this summary, you will learn
- Why the European Union needs a single capital market
- Why the current proposals for a Capital Market Union fall short
- What a better reform might look like
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Finance & Development , 2016