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EN
The EU Roundtable of Financial Centres met in Paris, bringing together representatives from Europe's most prominent financial centers and the European Securities and Markets Authority (ESMA).
The roundtable was a timely opportunity to discuss the crucial role of financial centers in supporting Europe's economic and financial recovery from the COVID-19 pandemic. The discussions centered around the various ways that financial centers can provide the necessary support to help lift economies out of recession and promote growth.
One of the primary topics of discussion was the implementation of the ecological transition at the European level, which requires significant financial resources. It was acknowledged that financial centers play a critical role in mobilizing these resources and directing them toward sustainable investments. By promoting sustainable finance and investing in green technologies, Europe's financial centers can contribute to the fight against climate change and support a green recovery.
Another topic that was extensively debated was the need to strike a balance between financial regulation and the competitiveness of the European financial industry. It was recognized that regulations are necessary to safeguard the integrity and stability of the financial system, but excessive regulation could stifle innovation and growth. Therefore, there was a general consensus that regulation must be appropriately calibrated to ensure a competitive and robust financial sector in Europe.
In conclusion, this EU regional chapter meeting was a productive and insightful event that highlighted the critical role of financial centers in supporting Europe's economic recovery, promoting sustainability, and ensuring a competitive financial industry. The discussions emphasized the need for a coordinated approach to address these issues and pave the way for a stronger, more resilient, and sustainable European economy.
The participants thanked Paris Europlace for the excellent preparation of the meeting.
Source: World Alliance of International Financial Centres (WAIFC)
