ECB’s Angeloni: bullish on Brexit, wary on regulatory reform

Relocations from UK will boost EU capital markets; but CRR needs to remove national barriers

Photo: ECB/Flickr

The European Central Bank has always been more than a central bank – it is an evangelist for the entire currency union project. When it became home to the single supervisory mechanism (SSM) in 2014, it added the banking union to its mission.

It is a tough time to be making that case. Europe’s largest financial centre, the UK, is leaving the internal market; meanwhile, members of the emerging coalition government in Italy have expressed scepticism about the euro, and about a key element of the r