AFME’s flagship Annual European Financial Integration conference, organised jointly with OMFIF, took place today, 2 days before the Eurogroup’s next meeting on 17 June. At this meeting, Eurozone finance ministers are expected to review and assess recent progress of the discussions on Banking Union.
A host of senior officials and leading industry participants at
today’s conference examined the impact of the pandemic on European
financial integration. The discussions highlighted the need for the EU
to pursue efforts towards completing its Banking and Capital Markets
Union projects to ensure the financial system is well equipped to
support post-pandemic growth, including an accelerated transformation
towards a more digital and sustainable economy.
Following the conference, Adam Farkas, CEO of AFME,
said: “The banking system plays a key role in Europe’s recovery from the
pandemic and underpinning future growth. Fostering a highly integrated,
resilient, competitive and profitable European banking sector is needed
to support growth and ensure long-term stability. The completion of
Banking Union must therefore remain a strategic priority.”
“Let’s not forget that the other key component of deepening Europe’s
financial integration is progress on the Capital Markets Union. We are
concerned there may be waning momentum and ambition on this project and
some of its main deliverables - for example, in areas such as bolstering
equity finance, scaling up securitisation and converging legal
frameworks. If we take a back seat on these long-term projects, Europe’s
economic recovery will be slower in the face of persistent
fragmentation.”
AFME
© AFME
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article