heavyweights will be talking about plans for an eu capital markets union, in order to get investments and savings flowing across member states. however negotiations over these plans have stalled for nearly a decade because eu members do not want to relinquish control of national financial rules. so how close is the so called single market for capital to becoming a reality? here s vim mice, ceo of the european banking federation in brussels with his thoughts. this, like many things in europe, it doesn t come with a big bang. it is usually part by part by part going forward. but it is so important that there is talk. it s not only the talk of macron and schulz, it is also the eurogroup who has been talking about it. there are several high level reports that really want to make this real. what s so important is that we really get a move on and the practical side, because we ve done all the analysis, we ve done all the regulation, and now we need to move onward. as everybody sees
and reducing bureaucracy in the single market. it s all part of an eu push to strengthen the bloc s economy and help it catch the us and china. rainer riess, is the director general of the federation of european securities exchanges. how much closer are we getting to cmu? and what would that mean? i think not too close, i think we made some progress, but it is a project that is dating back from 2015, lord hill, the last british commissioner, actually, had the vision to bring european capital markets closer together and to catch up with the us to diversify funding sources for business,er specially for small and medium enterprises and the idea behind it is to foster growth innovation and resilience in the eu economy and obviously this would bring a lot of benefits, lowering barriers within the european union, for cross border investments, making funding more available for smes, strengthening the role of the markets to fund the green position. defence is now a big topic. a lot o
London. Manus a little bit of breaking news. We have assets under management at the end of october, 393 billion swiss francs. Number, the fight for new funds. Its not just about new funds, its about the profitability of those funds and putting them to work. Thats the headline number coming through from julius berg. 393 billion swiss francs. Thats the top line, and we have a little bit more that we will bring to you. Angela merkel, who would have thought the stalwart of europe cannot get a coalition together . Eurodollar, euroyen, swissie. Anna does that lead to more talks . Perhaps. A minority government, new elections . The euro is the key message. Manus the question is this. Do you look into the eye of the storm and say she will pull it back . There will be a rapprochement . What we have is a reflection. These are the risk reversals. He were trading higher, quite a bullish sentiment on friday. The most bullish since 2009. The risk reversal, trading back at levels we havent seasons oc
Stoxx 600 after a selloff in Technology Stocks. Meeting, we understand that russia and opec will extend their production cuts. Eurodollar, im looking at that, also pound. Maybe finding an agreement. With some of her possible coalition partners. Later on, we talk italian banks and risk with claudio costamagna. Interview yousive dont want to miss as well. Minouche shafik joins us in her first tv appearance since leaving the boe. I, we will talk with the socgen chairman. Lets get to the bloomberg first word news. Nejra u. S. President donald trump has nominated Marvin Goodfriend to be a governor of the Federal Reserve. A professor at Carnegie Mellon university and a former director of research at the richmond said goodfriend has served on an independent panel of economists known as the shadow open market committee. Opec and russia are ready to extend their Oil Production cuts until the end of next year to ensure global stockpiles keep falling. Viennang to delegates in , all opec members a