ContextSpeech (virtually) by François Villeroy de Galhau, Governor of the Bank of France, at the 2026 Eurofi High Level Seminar, Nicosia, 27 March 2026.
Why it mattersA sharp call from the Banque de France Governor for Europe to act faster on capital markets, with clear deadlines.
Problems raised
Market fragmentation blocks EU firms from scaling up.
Access to capital is a key obstacle.
Europe fears the risks of action more than those of inaction.
Solutions proposed
Act fast with clear deadlines on reforms.
Unify capital markets to finance growth.
Seize the moment as US policy becomes less predictable.
