President Emmanuel Macron’s recent statement that economic prosperity and technological sovereignty are crucial for great power status has sparked a sense of unease across Europe. While the continent has not been at the forefront of the tech revolution, with American giants dominating the market, Europe must become more attractive to investment and innovation in order to secure its position as a leading economic power.
To achieve this goal, Europe needs access to large amounts of capital and a streamlined financial system that can efficiently direct savings towards promising investment opportunities throughout the continent. However, European finance remains fragmented and hindered by national boundaries, making it essential to advance banking and capital-market reforms now more than ever. By improving its financial infrastructure, Europe can better compete in a rapidly changing global economy and secure its position as a leading economic power.
