Building a big beautiful Europe
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Navigating Europe's Financial Fragmentation
This chapter explores the fragmented nature of Europe's financial markets, highlighting the lack of liquidity and depth which affects investment behaviors and debt pricing. It examines the shift in European pension funds towards American markets and discusses potential solutions for a more integrated European financial system, including the concept of '28th regime.' Additionally, the chapter assesses the impact of political changes, such as Brexit and the evolving role of Germany, on Europe's financial future and the need for collaborative reforms.
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