“The world's largest property fund calls for urgent reform of European capital marketsincluding to unify tax regulations regarding insolvency and supervision, so that the continent does not lag behind the United States and Asia in terms of competitiveness, “writes the Financial Times.
The British journal indicates that Norwegian Pension Fundwhich manages assets worth approximately $ 1.9 tribute, has an average of 2.5 percent. shares in every company listed on the continent's stock exchange. But The participation of European shares in its total assets has fallen over the last decade from 26 to 15 percent. Mainly due to the aforementioned decline in competitiveness.
See also: Billions for Poland. The Minister of Funds indicated priorities
The number of European companies belonging to the Fund has fallen over the last decade to 1546. American shares currently constitute 40 percent. fund's assets, compared to 21 percent ten years ago.
“A well -functioning market in Europe is very important to us,” Malin Norberg, director of market strategies at the fund, said in the Financial Times.
This week, the Fund will send a response to the consultations of the European Commission regarding the integration of capital markets, arguing that it should be more ambitious and deal with deeper structural problems that harm the continent and its many domestic markets.
Capital escapes to the USA. Europe's problems
The main barriers indicated by the Norwegian fund are National provisions on securities, company law and bankruptcy systems that differ significantly in individual Member States.
See also: The largest state investment fund of the world has started shopping for Polish bonds
It was found that the liquidity of European actions should be improved through competition and innovation, not regulations, and that supervision should be harmonized at European level.
“FT” notes that European technology companies, such as Spotify and Klarna, have entered or plan to enter the Stock Exchange in the United States, and groups such as Linde, CRH and ARM Holdings have moved their quotations there in recent years.
