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The European Commission is today launching an action plan to build a Capital Markets Union for the EU’s 28 Member States by 2019. The overall aim of the Capital Markets Union is to link savings with growth and give companies greater choice about where and how they get their financing. European businesses remain heavily reliant on banks, which makes the economy vulnerable to a tightening of bank lending. Making it easier for companies to get funding from markets, while not replacing banks as a source of financing, should make Europe more attractive to inward investment and spread risk more effectively than in the past.
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