THE CAPITALIZATION OF EUROPE
Who would expect innovative financial deregulation to emerge from Europe’s most notorious bureaucracy, the EEC Commission?
The corridors in the Berlayamont building, its Brussels headquarters, are the cradle of a system notorious for procrastination, compromise, and fudged opportunities. Yet from these corridors, in early June, came a proposal which could have far-reaching effects for the future of European economies.
The proposal was simple: why don’t we scrap exchange controls between the member states on dealing in unlisted securities and in new share flotations? Article 67 of the Treaty of rome, the charter which created the EEC, declares that there should be no obstructions to the free flow of capital between the member countries, so the June proposal is simply an extension of existing European law.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
