Peters: Europe needs a strong single financial market
“It’s gratifying to see movement in the discussion about deepening the single European financial market. The fact that the German Ministry of Finance is distancing itself from the European Commission’s previous proposal for a mutualisation of deposit guarantee schemes is an important step in the right direction. The European Commission should follow suit.
But a single European financial market requires more than just completing banking union. A European capital markets union is also needed, as well as more common rules and regulations for banks. This is the only way to advance the European banking market. German Finance Minister Scholz was right to address these points.”
Hans-Walter Peters, President of the Association of German Banks