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Ministry of Finance: Requests the acceleration of work to deepen the Capital Markets Union

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Makis Keravnos participated in the informal session of the Eurogroup and ECOFIN

ΥΠΟΙΚ: Ζητα επιταχυνση τω&nu ; εργασιoν για εμβΑθυνση της Eνωσ&eta ;ς Κεφαλαιαγορoν

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The need to speed up the work to deepen the capital markets union, so that businesses have greater financing options, stressed the Minister of Finance Makis Keravnos.

As stated in today's announcement by the Ministry of Finance, Mr. Keravnos participated in the informal session of the Eurogroup and ECOFIN, held in Ghent, Belgium on 23 and 24 February.

The focus of the work of the informal ECOFIN was the future strategic direction of the European Investment Bank (EIB), in the light of the growing geopolitical challenges and the new priorities of the EU, in the presence of the bank's new president, Nadia Calvinio.

After congratulating the new president on assuming her duties, Mr. Keravnos highlighted the important role played by the EIB over time in supporting the Cypriot economy, noting the need for continued cooperation, especially for financing projects of strategic importance, supporting small and medium-sized enterprises businesses, as well as achieving the EU's strategic priorities for the green transition.

During the informal Council, EU Finance Ministers also discussed ways in which they could contribute to improving of the competitiveness of the European Economy, with Mr. Mario Draghi, head of a special Working Group set up for this matter, following the order of the President of the European Commission.

Mr. Keravnos also participated in the work of the Eurogroup, where the next steps for deepening the Capital Markets Union were discussed.

According to the Ministry of Finance, in his intervention the Minister supported the need to speed up the work to deepen the Capital Markets Union, and the specification of guidelines for the new European Commission, so that the latter undertakes specific legislative initiatives, with the aim of providing businesses with greater financing options and reducing costs and bureaucracy for investors and businesses.

Source: www.kathimerini.com.cy

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