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Draghi pushes single market
EUROPEAN Central Bank (ECB) boss Mario Draghi yesterday called for a renewed and sustained effort to integrate Europe’s financial markets more closely.
He claimed closer partnerships between the countries of the EU are particularly important during times of crisis, and that the single market’s benefits should not be “forgotten or taken for granted.”
Draghi made the comments as he and ECB board member Peter Praet signed the Target2 Securities framework deal, which is intended to aid integration of securities post-trading infrastructure.
The project will bring “harmonisation of practices and procedures across Europe”, said Praet, pointing to the framework as an example of the deeper single market bringing efficiency gains for participants.