Brussels is pushing hard for deeper integration of Europe’s capital markets, so when financial shocks strike, risk is better shared and companies can turn to alternative sources of finance if banks pull back lending, explains Miranda Xafa, a senior fellow with the Centre for International Governance Innovation, in this video.
While Brexit is a serious setback, the pending departure of Britain from the European Union should ultimately strengthen the resolve of leaders to press ahead with an EU Capital Markets Union, Xafa argues.