EU capital markets union : an alluring opportunity or a blind alley?
Title | EU capital markets union : an alluring opportunity or a blind alley? PDF eBook |
Author | |
Publisher | |
Pages | 101 |
Release | 2017 |
Genre | |
ISBN |
EU Capital Markets Union: an Alluring Opportunity Or a Blind Alley?
Title | EU Capital Markets Union: an Alluring Opportunity Or a Blind Alley? PDF eBook |
Author | Hans-Helmut Kotz |
Publisher | |
Pages | 147 |
Release | 2017-11-02 |
Genre | |
ISBN | 9783428153596 |
The European Capital Markets Union
Title | The European Capital Markets Union PDF eBook |
Author | Andreas Dombret |
Publisher | Walter de Gruyter GmbH & Co KG |
Pages | 180 |
Release | 2015-07-31 |
Genre | Law |
ISBN | 3110436329 |
In March 2015, the Institute for Law and Finance in Frankfurt am Main held a full-day symposium which brought together leading representatives of the public and private sectors to deliver the first high level response to the questions posed by the Commission’s Green Paper on Building a Capital Markets Union. These responses are collected in this volume.
A Capital Market Union for Europe
Title | A Capital Market Union for Europe PDF eBook |
Author | Mr.Ashok Vir Bhatia |
Publisher | International Monetary Fund |
Pages | 30 |
Release | 2019-09-10 |
Genre | Business & Economics |
ISBN | 1498313272 |
This note weighs the merits of a capital market union (CMU) for Europe, identifies major obstacles in its path, and recommends a set of carefully targeted policy actions. European capital markets are relatively small, resulting in strong bank-dependence, and are split sharply along national lines. Results include an uneven playing field in terms of corporate funding costs, the rationing out of collateral-constrained firms, and limited shock absorption. The benefits of integration center on expanding financial choice, ultimately to support capital formation and resilience. Capital market development and integration would support a healthy diversity in European finance. Proceeding methodically, the note identifies three key barriers to greater capital market integration in Europe: transparency, regulatory quality, and insolvency practices. Based on these findings, the note urges three policy priorities, focused on the three barriers. There is no roadblock—such steps should prove feasible without a new grand bargain.
Light and Shadows in Europe's New Action Plan for Capital Markets Union
Title | Light and Shadows in Europe's New Action Plan for Capital Markets Union PDF eBook |
Author | Diego Valiante |
Publisher | |
Pages | 4 |
Release | 2015 |
Genre | Capital |
ISBN |
The European Commission's Action Plan consists, in a nutshell, of a short list of technical proposals and a longer one of (rather general) potential actions. Overall, the plan indeed proposes to achieve some short-term objectives, such as a reduction of listing costs for SMEs, but it lacks long-term vision. The plan bundles actions under rather generic objectives of long-term finance or cross-border investing. Improving the informational infrastructure (e.g. accounting standards, company data) and cross-border enforcement of rules is left to vaguely defined future actions, but these constitute the core of the capital markets infrastructure. Without a well-defined set of measurable objectives, the whole plan may lose political momentum and become an opportunity for interested parties to cherry pick their pet provisions. Building a single market, i.e. removing cross-border obstacles to capital circulation, is too challenging a task to simply appear as one of many items on a long list of general objectives, which incidentally do not include institutional reform. The ultimate risk is that the Commission may just miss a unique opportunity to revamp and improve the financial integration process in Europe after almost a decade of harmful financial retrenchment.
Capital Markets Union in Europe
Title | Capital Markets Union in Europe PDF eBook |
Author | Danny Busch |
Publisher | Oxford Eu Financial Regulation |
Pages | 0 |
Release | 2018 |
Genre | Law |
ISBN | 9780198813392 |
Capital Markets Union in Europe' analyses the legal and economic aspects of the plans for a Capital Markets Union (CMU) in Europe, which will have a major impact on financial markets and institutions both in the region and beyond.
The EU's Capital Markets Union
Title | The EU's Capital Markets Union PDF eBook |
Author | Zdenek Kudrna |
Publisher | |
Pages | |
Release | 2016-11-17 |
Genre | |
ISBN | 9781619774551 |