· François Villeroy de Galhau Wiki · Banque de France WikiLooking up to achieve a Financing Union
Read full speech on bis.org ↗ContextSpeech as chair of the BIS Board on achieving a European Financing Union; the Banque de France keeps finance stable and wants savings to fund European investment.
Why it mattersVilleroy argues that Europe's savings should fund its own companies across borders.
Problems raised
- European banking and financial systems are fragmented.
- Savings do not fund investment efficiently.
- The capital markets union is incomplete.
Solutions proposed
- Achieve a financing union.
- Complete the banking union.
- Advance the capital markets union.