Gabor KOVACS
Lagarde claims that banks and EU governments drowning in debt are unable to find the resources required to address the issues of decarbonization, globalization, and population.
According to projections from the European Commission, until 2030, the EU will require €620 billion annually to accomplish its decarbonization ambitions and an additional €125 billion year for digitalization.
Lagarde stated, "It is evident that we cannot rely on the current framework to finance these investments. If we do not take another look at the possibility of establishing a unified capital market, we will fail in our endeavors."
She pointed out that in order to take part in decarbonization and digitalization activities, European businesses need to raise enough money.
Lagarde suggested that rather than having several national regulators, a "European SEC" could be established to help with the issues. Among other things, she recommended strengthening the European Securities and Markets Authority (ESMA).
source: ec.europa.eu
According to projections from the European Commission, until 2030, the EU will require €620 billion annually to accomplish its decarbonization ambitions and an additional €125 billion year for digitalization.
Lagarde stated, "It is evident that we cannot rely on the current framework to finance these investments. If we do not take another look at the possibility of establishing a unified capital market, we will fail in our endeavors."
She pointed out that in order to take part in decarbonization and digitalization activities, European businesses need to raise enough money.
Lagarde suggested that rather than having several national regulators, a "European SEC" could be established to help with the issues. Among other things, she recommended strengthening the European Securities and Markets Authority (ESMA).
source: ec.europa.eu
