CMU should drive green and digital transitions, says BdF governor

Villeroy de Galhau calls for capital markets union to adopt “higher purpose”

François Villeroy de Galhau

The Bank of France’s governor has called for the European Capital Markets Union (CMU) to become a driving force in the green and digital transitions.

In a speech on 23 February, François Villeroy de Galhau said significant progress had been made on creating the CMU. However, he said it had been framed as a force for stability, when what it needed was the “higher purpose” of becoming a “financial union for transition”.

He said that this shift of approach could unlock, between now and 2030, €620

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