EIB President Calviño Attributes EU Capital Market Division to Brexit
European Investment Bank (EIB) President Nadia Calviño stated that the United Kingdom's departure from the European Union, commonly known as Brexit, is a contributing factor to the EU's ongoing challenges in integrating its capital markets. Speaking during an interview on Wednesday, Calviño emphasized London's historical role as Europe's central financial market. She indicated that Brexit has led to a fragmentation of financial forces across the continent.
European Investment Bank (EIB) President Nadia Calviño has attributed the European Union's struggles in integrating its capital markets, in part, to the United Kingdom's exit from the bloc. Calviño made these remarks during an interview with Bloomberg TV's Guy Johnson on Wednesday.
Calviño highlighted the significant role London played prior to the UK's departure. She stated that London functioned as Europe's primary financial market, and its exit resulted in a fragmentation of financial forces within the continent. "We shouldn't underestimate the importance of Brexit," Calviño remarked, further adding, "London was Europe's financial market, and after Brexit we have divided our forces."
In the same interview, Calviño also discussed the European Investment Bank's ongoing investment strategies. The lender is reportedly channeling funds into various security defense, technology, and energy projects.
According to Bloomberg Markets, Calviño's comments underscore the perceived lasting impact of Brexit on the continent's financial architecture.
