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    Valdis Dombrovskis of EC on the Joint MoU on Baltic Capital Markets

    November 06, 2017

    The EC Vice President Valdis Dombrovskis spoke, in Brussels, on the signing ceremony of the Memorandum of Understanding (MoU) on Baltic capital markets. With the signature of the joint MoU, Estonia, Latvia, and Lithuania mark an important step on the road to creating a Capital Markets Union.

    Dombrovskis highlighted that strengthening and integrating the EU capital markets through cross-border and regional initiatives helps create new opportunities; these opportunities could be in the form of easier access to financial markets and alternative sources of financing for consumers and companies. The three Baltic States are already often considered by investors as one single market and one investment region. With this initiative, these Baltic States are proactively building their own investment capacity, which is particularly important for small and medium enterprises. EC, together with European Bank for Reconstruction and Development, will support the Baltic States with the introduction of a pan-Baltic covered bond framework. This will contribute toward well-functioning and larger capital markets in the region and would also open up long-term funding options for banks. In conclusion, Mr. Dombrovskis emphasized that this MoU is "...the start of a very productive engagement and we look forward to future cooperation.”

     

    Related Link: Speech

    ​Keywords: Europe, Securities, Pan-Baltic Capital Market, MoU, Baltic States, Capital Markets Union, EC

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