Mario Draghi, former president of the European Central Bank, has issued another appeal to policymakers to build an integrated capital market for the EU. In a commentary in the Financial Times on 2-3 November, Mr Draghi argues that a unified market would mobilise private capital to back projects in defence, the building of a digital infrastructure, and the mitigation of climate change. Currently the EU is home to more than 30 national and regional stock exchanges, each with its own regulations. A similar decentralised structure exists for bond markets.
