EU Seeks “Reboot" of Capital-Markets Plan to Reduce Reliance on Banks

European capital markets are still too small to provide enough funding for companies, which continue to rely on banks, an EU document said, urging new measures to unlock financial resources and spur funding through equities and corporate debt, Reuters reported. The document, seen by Reuters, was prepared by the Finnish presidency of the European Union before a meeting of EU finance ministers on Friday in Helsinki that will address the matter. The EU offered a plan for a so-called capital-market union in 2015, but the project remains incomplete and still “falls short” of its initial goals, the document said, calling for its “reboot”. Read more