ContextSpeech at the Munich European Conference on security and prosperity, hosted by Giesecke+Devrient; the Bundesbank is Germany's central bank within the euro system and links stability to prosperity.
Why it mattersNagel links Europe's competitiveness to completing banking and capital markets union.
Problems raised
Europe's competitiveness is weak.
Financial markets remain fragmented.
Geopolitical security is challenged.
Solutions proposed
Deepen the single market and simplify administration.
