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FinMin calls for expedited work to deepen Capital Markets Union

Cyprus Minister of Finance, Makis Keravnos, has called for expedited work to deepen the EU Capital Markets Union, which would provide EU businesses with more financing options.

According to a press release issued by the Finance Ministry, Keravnos attended the informal meeting of the Eurozone Finance Ministers (Eurogroup) and the EU Finance Ministers' meeting (Ecofin) held in Ghent, Belgium on 23 – 24 February.

The EU Finance Ministers discussed the future of the European Investment Bank (EIB) with the EIB President Nadia Calvino.

Congratulating Calvino on her appointment, Keravnos highlighted the long-standing role played by the EIB in supporting the Cypriot economy, noting the need for continued collaboration particularly in projects of strategic importance, the support of small and medium-sized enterprises, as well as the achievement of the EU’s strategic priorities over the green transition.

During the meeting, the EU Ministers discussed the future of EU competitiveness with Mario Draghi in light of his upcoming report.

Keravnos also attended the meeting of the Eurogroup Ministers who discussed the future of the EU Capital Markets Union.

Speaking at the meeting, Keravnos called for expedited work on the deepening of the Capital Markets Union.

He also called for specific initiatives by the European Commission aiming to provide businesses with greater options in financing and to reduce red tape for businesses and investors alike.

(Source: CNA)

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