Following on from our 2015 report, which discussed ‘Defending Open Markets in Challenging Times’, our most recent work aims to contribute to the policy debate around international investors’ and the financial services sector’s contribution to fostering economic growth in the European Union.
We are launching this report in awareness of the gradual, yet slow economic recovery in Europe. Several EU Member States have implemented demanding reforms, but there is still too much reliance on the hope that the European Central Bank's expansionary monetary policy will lead to a strengthening in Europe’s economic growth. Concerns remain as to several structural issues, including youth unemployment. It remains crucial that the EU continues to address its economic growth challenge and we fully support the investment initiative of Jean-Claude Juncker, Presi-dent of the European Commission, to complement the ongoing reforms through the European Fund for Strategic Investment and by realising the potential of the private sector through a Capital Markets Union.
We strongly support the Capital Markets Union initiative and in our recent Discussion Paper, we show that international investors can play a vital role in its success. At the same time, our research explores examples of continued barriers in corporate, institutional and private invest-ment in Europe. Finally, our report articulates several recommendations of how existing and new policies can help address these challenges and take greater account of the international dimen-sion when legislating.
The CMU Action plan and the Commission’s Call for Evidence provide great opportunities to take the EU’s growth agenda forward. We hope you will find our Discussion Paper a valuable contribu-tion to this policy debate and hope you enjoy reading it.
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