Browsing by Subject "Capital Markets Union"

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  • Pylkkönen, Pertti (2015)
    Bank of Finland. Bulletin 2/2015
    The financial difficulties of small and medium-sized enterprises in the euro area are gradually easing. Finance surveys indicate that access to finance has continued to be unconstrained in Finland, but the terms and conditions of loans are tightening. Collateral requirements are increasing, as is the use of various loan covenants in corporate finance.
  • Manninen, Otso (2017)
    Bank of Finland. Bulletin 2/2017
    A broader funding base especially for growth-oriented small and medium-sized enterprises would boost economic growth and employment. Cross-border capital flows would promote private risk sharing in Europe. To support these objectives, the European Commission has designed and partly implemented a Capital Markets Union. So far, the project to build a single market for capital has advanced at a relatively good pace, but now there are some difficult issues ahead, such as harmonisation of taxation and insolvency law. Although the toughest challenges still loom ahead, this should not be allowed to prevent completion of the initiative.