says the bank is ready to start cutting rates. musicians cope with stage fright. welcome to business today, i m mark lobel. is on the second day of a state visit. he s there to meet chancellor olaf scholz for talks aimed with the us and china. the two european heavyweights want to advance plans for an eu capital markets union. that s to get investments and savings flowing across member states. however negotiations 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? let s get the thoughts of vim mice. he s ceo of the european banking federation in brussels. 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, there are several high level reports that really want to make this real. what s
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
one on one. i spoke to bates gill, senior fellow at the national bureau of asian research, who laid out his expectations for the summit. obviously it is very important gathering of these three important east asian countries. the first time they have met in a number of years. the summit itself is importantjust for symbolism and effort on the part of these three countries who had serious differences among them to sit down and meet. my expectations are relatively low. i think it is more symbolism and rhetoric than any actual breakthroughs on serious differences that continue to divide the countries, particularly between china and us allies south korea and japan on the other. to china and us allies south korea and japan on the other.- and japan on the other. to get our and japan on the other. to get your thoughts and japan on the other. to get your thoughts on and japan on the other. to get your thoughts on trade - and japan on the other. to get your thoughts on trade which i
fellow at the national bureau of asian research, who laid out his expectations for the summit. obviously it is very important gathering of these three important east asian countries. the first time they have met in a number of years. the summit itself is important just for symbolism and effort on the part of these three countries who had serious differences among them to sit down and meet. my expectations are relatively low. i think it is more symbolism and rhetoric than any actual breakthroughs on serious differences that continue to divide the countries, particularly between china and us allies, south korea and japan on the other. to get your thoughts on trade which is an area that could be mutual benefits for all three parties involved. what are the priorities? that is where the three countries have the greatest self interest for continuing cooperation and they represent a significant proportion of global gdp and global trade. but that will not change, particularly. there