Germany backs centralized EU financial oversight, signaling CMU push
TL;DR
Germany has signaled a shift toward centralized EU financial supervision by backing Esma expansion, arguing a stronger, more coordinated EU capital markets is worth sacrificing some national control. Berlin and five other large EU economies are pursuing a common transition timeline for Esma to oversee large cross-border markets, with hopes to secure broader agreement this year, while still negotiating issues like joint debt and bank deposit backstops.
Topics:worldeuropean-politics#capital-markets-union#esma#eu-financial-regulation#european-economy#european-politics#germany
- Germany shifts on EU oversight of financial services Financial Times
- EU’s Economic Powers Seek Unity to Push Capital Markets Merger Bloomberg.com
- EU’s big 6 pitch a rival to Wall Street politico.eu
- EU's six biggest economies agree on capital markets supervision Reuters
- EU's six largest economies push for capital markets union Euronews.com
Want the full story? Read the original reporting
Read on Financial Times