Europe should not neglect its capital markets unionMaria Demertzis, Marta Domnguez-Jimnez and Lionel Guetta-JeanrenaudExecutive summaryThe completion of Europes capital markets union is desirable not only from a financial stability stand-point. Equity-based financing is also better suited than banks to finance high growth sectors (such as digital and hi-tech) where most capital is intangible. Additionally, stock markets reallocate funds towards less-polluting sectors more efficien
