The European Union today launched its third package of reforms in six years in a bid to build a smoother stock market that can better compete with its counterparts in London and New York.
The European Union’s project to create a capital markets union was dealt a heavy blow when Britain left the European bloc. Organize it better.
The Commission is looking to facilitate the process of raising money for companies to achieve climate goals and recover from the financial repercussions of the Covid-19 pandemic, and Britain’s exit from the European Union has also caused the emergence of a strong financial competitor on its doorstep.
Mered McGuinness, head of the European Union’s financial services sector, said that the record of securities prices and the concentration of information at one point would provide a defining moment for the capital markets union when it was created.
The proposals will need to be approved by the European Parliament and EU countries to become law, with concessions expected.
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