ECB certificates: a ready-made euro safe asset

The CMU must be backed by a stock of safe assets. The ECB can supply them, writes Daniel Hardy

Euro safe asset

The European Union has renewed its drive to create a true capital markets union (CMU) to fund the post-Covid-19 recovery – and, implicitly, reduce its reliance on London for financial services after Brexit. But tinkering with regulations is not enough. Now, in the face of crisis, Europe needs innovation to build the CMU and fulfill its objectives.

Essential to the project is the availability of an adequate volume of suitable ‘safe’ assets. These are needed to anchor investment portfolios and to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: