Photo credit © Reuters
BERLIN (Reuters) – The leaders of the institutions of the European Union (EU) call for more cooperation and the establishment of a “real union of capital markets”, in an article published notably on the daily’s website The echoes.
This text, which commemorates the 25th anniversary of the single currency, was written by Ursula von der Leyen, President of the European Commission, Roberta Metsola, President of the European Parliament, Charles Michel, President of the European Council, Christine Lagarde, Director of the European Central Bank (ECB), and Paschal Donohoe, President of the Eurogroup.
In this document, the leaders underline the need to cooperate in the face of “urgent issues of common interest”, notably “the rise in geopolitical tensions” and “the ecological and digital transitions”.
“Our competitiveness must also face unprecedented threats, due to energy and industrial policies carried out in other parts of the world,” they add.
They also advocate the creation of a continent-wide capital markets union to mobilize private financing.
“We must use European policies and instruments to improve our competitiveness and security, for example by strengthening existing structures through an overhaul of fiscal rules and a stronger banking union.”
The leaders also propose developing the foundations of a digital euro which would complement cash.
(Writing by Miranda Murray, French version Kate Entringer, editing by Zhifan Liu)
©2024 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.