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Open, innovative and sustainable markets will be key for the economic recovery
Brussels, 25 September 2020 – In its ‘Capital Markets Union’ (CMU) action plan released yesterday, the European Commission outlines a comprehensive strategy to unlock the potential of capital markets across Europe. At present, the fragmented state of markets represents an obstacle to cross-border investments and the efficient allocation of capital. Thriving and globally connected capital markets will play a critical role in the economic recovery from the current crisis.
The American Chamber of Commerce to the EU (AmCham EU) supports the Commission’s efforts to complete the Single Market for financial services, including the CMU agenda. Ongoing and future initiatives should strive to avoid the fragmentation of liquidity, help diversify sources of funding and improve the flow of investment information. The Action Plan recognises that EU capital markets are stronger and more attractive when they are open to global financial markets and AmCham EU urges caution that ‘strategic autonomy’ does not undermine that commitment to openness.
Susan Danger, CEO, AmCham EU, said: ‘Open, well-functioning and appropriately regulated transatlantic capital markets are a crucial driver of long-term economic growth and competitiveness in Europe and the US.’ She went on to say: ‘The CMU needs to remain open for global investment as it will play a key part in financing Europe’s recovery, in areas such as green and digital infrastructure’.