‘Ambitious’ capital markets union necessary – Constâncio
The eurozone needs an “ambitious” capital markets union, or CMU, to smooth over potential macroeconomic shocks, Vítor Constâncio told an audience in Malta on April 4.
The vice-president of the European Central Bank (ECB) said monetary policy had been the “mainstay” of macroeconomic stabilisation in the eurozone since the onset of the financial crisis.
While there were other potential sources of stabilisation, Constâncio said, there was a lack of synchronisation among the business cycles of
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