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MNI BRIEF: EU Safe Asset Decision Beyond Scope Of CMU-Official

Any decision on a European safe asset will come after a major political agreement which is beyond the scope of the current towards a European Capital Markets Union, a senior European Union official said on Wednesday.

“The European safe asset is a relevant issue for the evolution of CMU, but it’s fundamentally an issue for one of the big, political-fiscal integration decisions that extend far beyond CMU,” the official said.

The slow-moving drive for CMU has moved more centre stage as concerns around Europe’s competitiveness have grown in the last 18 months and will be a major topic at the EU finance ministers’ meeting in Ghent on Friday and Saturday. (See MNI: France Backs Proposal For Joint EU Retail Bonds-Officials)

CMU will be a years-long project focused on improving long-term competitiveness and allowing companies to find the funding to innovate, the official said.

MNI Brussels Bureau | david.thomas.ext@marketnews.com
Central Bank NewsPolicy NewsEuropean Central BankCEEMEAEurozoneBriefStoryRegion
MNI Brussels Bureau | david.thomas.ext@marketnews.com
Central Bank NewsPolicy NewsEuropean Central BankCEEMEAEurozoneBriefStoryRegion

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