The Markets4Europe campaign aims to improve the financing of economic growth and employment in the EU by putting capital markets to work for Europe.
The campaign recommends that the EU, Member States and the financial services industry embark on a coordinated project to achieve six high-impact changes.
- Channel long-term savings into financing entrepreneurship
- Make cross-border investment as easy and reliable as domestic investment
- Remove taxation obstacles to investors and companies
- Improve companies’ direct and indirect access to capital markets
- Educate the next generation of investors and entrepreneurs
- Strengthen the EU’s international role
Luxembourg, 25 February 2020 – The Markets4Europe Roadshow continued in Luxembourg, with a regional conference, bringing together private and public sector leaders who are united in their call for decisive European Union action to build up capital markets as a matter of dynamic growth.
Markets4Europe is a private sector coalition led by six former politicians and central bankers, including Vitor Constâncio, Martina Dalic, Enrico Letta, Christian Noyer, Viviane Reding and Peer Steinbrück. Following the public launch of its recommendations in September 2019, the campaign is now on an EU-wide roadshow, to raise awareness and inspire discussion at a local level.
The Luxembourg discussions are focused on the role of capital markets to fund small and medium sized businesses, and on developing the range of investment opportunities for long-term savings, thus sustainably driving growth in the EU economy.
Viviane Reding, ambassador of the Markets4Europe campaign said: “The EU needs to finance its entrepreneurs better, it needs to offer better investment opportunities to its citizens, it needs to spread market risks across countries and sectors better, and it must pull its weight in the global economy. This is why I am an ambassador for Makets4Europe.”
“Both corporates and investors in the EU need market-based financing as a complement to bank lending and bank deposits. This is not a shift from banking to capital markets, it is simply more capital markets, which is why banking associations are so closely involved in this campaign”, added Wim Mijs, CEO of the European Banking Federation.
Guy Hoffmann, Chairman of the ABBL said: “A properly functioning CMU will finally provide Europe’s hidden champions – small and medium sized companies – with access to innovative products to financing solutions that best fit their business models.”
The ABBL supports the Markets4Europe initiative, and the Luxembourg event was targeted to raise awareness of the necessity for all stakeholders to play their role in moving the process forward.
More regional events are scheduled, including Berlin (27 February), Stockholm (7 May), Croatia (15/16 June). Throughout 2020, further events are planned in Amsterdam, Bucharest, Lisbon and Milan/Rome.
For more information, visit www.markets4europe.eu