Latest news with #CapitalMarketsUnion
Euronews
02-07-2025
- Business
- Euronews
EU pharma chief calls for European Nasdaq to boost biotech innovation
Stefan Oelrich, president of Bayer's pharmaceutical division and newly appointed head of the EU's pharmaceutical lobby EFPIA, pointed out the urgent need for capital market reform to support biotech development in Europe. 'We need the equivalent of a Nasdaq in Europe where we can raise capital for biotech. Because biotech is not just about government finance,' Oelrich said during a press conference last week. Launched in 1971, the Nasdaq (originally the National Association of Securities Dealers Automated Quotations) was the world's first electronic stock market. Known for its fully electronic trading model, the exchange has historically been attractive to fast-growing sectors, including life science, listing some of the world's largest tech companies, including Apple, Microsoft, and Google. Oelrich argued that Europe must urgently develop a similar equity-driven financing ecosystem. 'Today, there is very limited venture capital available, which is largely due to the way we manage equities. We invest our equities not in venture, but elsewhere,' he said. According to him, the lack of early-stage capital means European biotech innovations often migrate elsewhere — especially to the US, where funding and commercialisation opportunities are more robust. 'The transition from basic research to patented applications tends to follow where the capital is. We must ensure that innovation generated in European universities and research institutions stays in Europe,' he warned. 'Why don't we do it?' His remarks came just ahead of the unveiling of the EU's long-awaited Life Sciences Strategy, which aims to revive Europe's position as a hub for biotech research and development. The strategy acknowledges that the gap in venture capital investment is widening in Europe. It points to the continent's fragmented capital markets and heavy reliance on bank loans, which are often limited in volume and duration, as major structural issues. The strategy also recommends strengthening innovation hubs and integrating them into value chains to better attract private investment. However, it does not place significant emphasis on completing the EU's Capital Markets Union (CMU), a key demand from Oelrich. 'This may sound ambitious, but it's absolutely doable. Interestingly, everyone I talk to recognises the need: So why aren't we acting on it?' Oelrich asked. He also suggested that part of Europe's pension and life insurance capital could be redirected toward venture investment if appropriate political frameworks were put in place. 'Inventions can find a market here as it's not only about a lack of capital in Europe: It's about how we allocate it. We need to do a better job,' he concluded. The broader context The EU's Capital Markets Union remains incomplete, with progress hindered by regulatory divergence, inconsistent enforcement, and political resistance to deeper integration. While the CMU does not directly aim to create new stock exchanges, it does support efforts to expand access to capital, particularly for small and medium-sized enterprises (SMEs). This improved access could encourage the development of specialised or regional exchanges, though the broader goal remains integration rather than fragmentation. Currently, Europe lacks sector-specific stock exchanges. Major platforms like Euronext, the London Stock Exchange, Deutsche Börse, Nasdaq Nordic, and SIX Swiss Exchange list companies across a wide range of industries. Instead of dedicated exchanges, sector-focused investment is facilitated through indices such as the STOXX Europe 600 family, which tracks sectors like banking, automotive, and leisure. Still, for many in the biotech sector, the absence of a specialised capital-raising platform remains a barrier. Whether the EU will — and can — move to address this remains to be seen.
RTÉ News
19-06-2025
- Business
- RTÉ News
Donohoe clear front runner to remain Eurogroup president
The process to potentially reinstate Minister for Finance Paschal Donohoe for a third term as President of the Eurogroup will formally begin in Luxembourg this afternoon, as eurozone finance ministers take the first steps in assessing any candidates who come forward. Mr Donohoe is understood to be the clear front runner to serve for another two-and-a-half years, with his team confident that he will have the support of a simple majority of the 20 eurozone finance ministers. The election will take place by secret ballot at a meeting of the Eurogroup on 7 July. Mr Donohoe, whose current term expires on 12 July, has publicly declared his candidacy and while Spanish finance minister Carlos Cuerpo and Lithuanian finance minister Rimantas Šadžius are both thought to be considering entering the ring, neither have formally declared. Ministers have until 27 July to nominate themselves as challengers. Mr Donohoe is understood to be seeking a third term in order to press ahead with the EU's banking union, as well as the Capital Markets Union (CMU). Former European Commission president Jean-Claude Juncker holds the record for stewardship of the Eurogroup, acting as president from 2005 to 2013. His successor, Jeroen Dijsselbloem, was president of the Eurogroup for two years - 2013-2018.
Zawya
09-05-2025
- Business
- Zawya
EU's von der Leyen: Big push on capital markets union expected before the summer
The European Union will make a "big push" towards a capital markets union, which experts says would free up funds to finance defence spending as well as digital and green transitions, European Commission President Ursula von der Leyen said on Friday. "We need a deep and liquid functioning capital market for the whole European Union (...) We agreed that this is now the time really to push this topic forward and to make progress. So before the summer, we are expecting a big push forward on that topic", she said during a joint press conference with new German Chancellor Friedrich Merz. Discussions on a Capital Markets Union have been dragging on for a decade and made very slow progress because of entrenched national interests, different business and financial cultures, and regulations in European countries. (Reporting by Benoit Van Overstraeten; Editing by Hugh Lawson)
Yahoo
09-05-2025
- Business
- Yahoo
EU's von der Leyen: Big push on capital markets union expected before the summer
BRUSSELS (Reuters) -The European Union will make a "big push" towards a capital markets union, which experts says would free up funds to finance defence spending as well as digital and green transitions, European Commission President Ursula von der Leyen said on Friday. "We need a deep and liquid functioning capital market for the whole European Union (...) We agreed that this is now the time really to push this topic forward and to make progress. So before the summer, we are expecting a big push forward on that topic", she said during a joint press conference with new German Chancellor Friedrich Merz. Discussions on a Capital Markets Union have been dragging on for a decade and made very slow progress because of entrenched national interests, different business and financial cultures, and regulations in European countries. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
09-05-2025
- Business
- Reuters
EU's von der Leyen: Big push on capital markets union expected before the summer
BRUSSELS, May 9 (Reuters) - The European Union will make a "big push" towards a capital markets union, which experts says would free up funds to finance defence spending as well as digital and green transitions, European Commission President Ursula von der Leyen said on Friday. "We need a deep and liquid functioning capital market for the whole European Union (...) We agreed that this is now the time really to push this topic forward and to make progress. So before the summer, we are expecting a big push forward on that topic", she said during a joint press conference with new German Chancellor Friedrich Merz. Discussions on a Capital Markets Union have been dragging on for a decade and made very slow progress because of entrenched national interests, different business and financial cultures, and regulations in European countries.
