European financial regulation and transatlantic collaboration
Europe and the U.S. dominate the world’s financial sector and choices made on each side of the Atlantic about financial regulation can have profound consequences on the other. A key goal of policymakers is to foster transatlantic understanding and collaboration to help promote financial stability and economic growth. For example, the European Commission issued a green paper (PDF) on February 18 with its first detailed thoughts on its push for a capital markets union in Europe. That major initiative could reshape global markets over time, open up opportunities for U.S. firms, and potentially influence U.S. regulation and market functions.
On February 25, the Economic Studies program at Brookings hosted an event featuring Lord Hill, the new European commissioner for financial stability, financial services and capital markets union. This was part of his first visit to the U.S. on behalf of the European Commission, and he gave insights into the values that will guide his term of office, outline his approach to the regulation of the financial sector (including the EU’s capital markets union project), and set out priorities for cooperation between the EU and U.S. in this area. After his remarks, Lord Hill participated in a moderated discussion with Douglas J. Elliott of Brookings.
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