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MNI: Ministers Discuss Joint Label For EU Savings Products

(MNI) Brussels

EU officials speak of plans for moving towards Capital Markets Union.

Talks among eurozone finance ministers aimed at catalysing progress towards Capital Markets Union by launching a pan-European savings product are shifting towards the idea of each member state being able to launch its own savings product but marketed with a European Union label, officials told MNI.

"In the Eurogroup the idea was that each country should develop their own European savings product," one national finance ministry official said of the last meeting of the ministers on May 13.

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Talks among eurozone finance ministers aimed at catalysing progress towards Capital Markets Union by launching a pan-European savings product are shifting towards the idea of each member state being able to launch its own savings product but marketed with a European Union label, officials told MNI.

"In the Eurogroup the idea was that each country should develop their own European savings product," one national finance ministry official said of the last meeting of the ministers on May 13.

Keep reading...Show less