MNI BRIEF: Pan-EU Financial Product A First CMU Step - Belgium
Belgian Finance Minister looks at cross-border financial products as step to stronger CMU.
A “pan-European financial product” could be an important step to a stronger EU Capital Markets Union, Belgian Finance Minister Vincent van Peteghem said Tuesday, as the talk of a smaller subset of EU states moving ahead with CMU continues.
“It’s always better to move forward with 27 but of course we have to see if anything is possible,” Peteghem said. “For instance, a pan-European Financial Product could be an important first step and a very visible step in enhancing and strengthening the CMU”.
EU Economy Commissioner Paolo Gentiloni said Monday that if all 27 states were unable to make progress on CMU because of differences then a more select group could be expected to go ahead on its own.