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European Commissioner in charge of jobs, growth, investment and competitiveness Jyrki Katainen gives a press conference at the Commission headquarters in Brussels, Belgium, 28 January 2015. Photo EPA/BGNES
The European Commission has launched a project to unlock funding for Europe’s businesses and to boost growth in the EU with the creation of a true single market for capital.
The Capital Markets Union (CMU) aims to break down the barriers that are blocking cross-border investments in the EU and preventing businesses from getting access to finance, the EU executive said in a statement on Wednesday.
The Commission noted that Europe’s “current environment is tough for businesses that remain heavily reliant on banks and relatively less on capital markets ” while the opposite is true in other parts of the world.
“… if EU venture capital markets were as deep as the US, as much as EUR 90 B more in funds would have been available to companies between 2008 and 2013.”
With Wednesday’s launch of a three-month consultation round, known as a Green Paper, the Commission has started preparations for drafting an Action Plan to help unlock non-bank funding so that start-ups can thrive and larger companies can expand further.
Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness explained: "Capital Markets Union is the first structural initiative that the Commission puts forward under the investment plan. It will contribute to ensuring that the investment plan is more than a one-off push and has a durable positive impact on economic conditions in Europe."
The Bulgarian Medical Union (BLS) has issued a warning that the country’s healthcare system is approaching a critical point, calling for urgent state intervention to prevent further deterioration
The Bulgarian government will approve a 5% increase in subsidies for several public service organizations, including BDZ-Passenger Transport (Bulgarian State Railways), NRIC (National Company Railway Infrastructure), the Bulgarian Posts, and municipal urb
Bulgaria risks forfeiting a substantial portion of funding under the Recovery and Resilience Plan as reforms remain stalled and political decisions continue to be postponed
Bulgaria has received close to 70 billion leva, or roughly 35.8 billion euro, in grant funding from the start of the transition period (1990s) up to 2024
The United States has halted the disbursement of grants worth a total of $215 million
On April 1, Radio Free Europe/Radio Liberty (RFE/RL) began furloughing staff at its Prague headquarters due to delays in receiving funding from the U.S. Agency for Global Media (USAGM)
A group of Members of the European Parliament has raised concerns over the potential leakage of confidential EU information to Russia, urging stronger safeguards within the European Parliament
The European Public Prosecutor’s Office (EPPO) has carried out a series of coordinated investigative actions across several countries, including Bulgaria and Romania, as part of a probe into suspected large-scale fraud involving EU funds
The caretaker government has approved a decision endorsing the Partnership Agreement between the European Union and its Member States and the Mercosur bloc
US Vice President JD Vance launched a sharp attack on the European Union during a visit to Budapest, accusing Brussels of interfering in Hungary’s election just days before a closely contested vote that could reshape the country’s political landscape
Fuel prices in Germany have recently reached new highs, with diesel briefly exceeding 2.40 euros per litre during the Easter holiday period before easing slightly afterward
A recently revised German military service framework has triggered public debate after it emerged that it places new travel-related obligations on men aged between 17 and 45
Aniventure Comic Con Returns to Bulgaria with Star Guest Christopher Judge!
Global Fuel Shock: Oil Jumps Over 40% Since Iran War Began
