“The recovery plan turns the immense challenge we face into an opportunity, not only by supporting the recovery but also by investing in our future: the European Green Deal and digitalization will boost jobs and growth, the resilience of our societies and the health of our environment.”
“The capital markets union is a major element of our post-coronavirus recovery strategy. Savers and investors will play a vital role in getting the economy moving again and they need to have the confidence to invest through capital markets. And companies need to be able to access diversified sources of market-based financing anywhere in the EU.”
“Deep capital markets offering diversified sources of funding are essential for the long-term financing of the recovery. Efficient capital markets encourage greater long-term investments in the economy, allow for more rapid recapitalisation of companies, help banks increase their capacity to finance the economy and can support the transformation to more sustainable economic growth.”
The European financial system exists for a reason: to meet the needs of European companies, investors and savers and citizens. Wherever they are, whatever their size and type, companies and investors and savers must have access to the financing they need.
In the midst of the Covid 19 crisis and its economic and social consequences, banks and financial markets have a major role to play to support the economic and financial recovery.
Financial Market key function is to intermediate funds from savers and investors towards corporates of all sizes to support their functioning and their transition towards a greener and more digital economy. Banking Finance and financial markets are complementary to achieve the EU’s ambitions of economic growth, sustainability and cohesion. But also, and to reinforce its competitive edge in a global environment. Europe needs a Banking and Capital Markets Union which works at different levels of access – local, regional and pan-European – in a seamless and fully integrated way.