EU APPROVES EUROPEAN CAPITAL MARKETS UNION LAWS, BUT DEEP CAPITAL POOLS AWAIT
December 22nd, 2023
The European Union (EU) has been busy chiselling the regulatory edifice of its much-vaunted European Capital Markets Union (CMU), but this growing legal framework has yet to deliver the deep capital pools that its framers envisaged.
Indeed, speaking at the European Banking Congress, in Frankfurt, on November 17, European Central Bank (ECB) president Christine Lagarde, bemoaned the lack of available EU capital (1):
“Today, European start-ups attract less than half the funding of their US counterparts, while the volume of investments in scale-ups in the United ...
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