Lagarde’s Trump Warning Paves Way for EU Capital Markets Drive

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(Bloomberg) — Engulfed in a prolonged economic slowdown and facing the prospect of Donald Trump returning to the White House, the European Union is dusting off a plan to unite its disparate capital markets.

The so-called Capital Markets Union, or CMU, has long been on the to-do list for officials trying to deepen the EU’s single market and secure stronger investment and economic growth. But the project, launched nearly a decade ago, has repeatedly stumbled over national interests or been eclipsed by more urgent work responding to crises such as the Covid pandemic.