MNI BRIEF: Support For CMU 'Never Been Greater -Lagarde

Political support for completing the EU’s capital markets union “has never been greater", European Central Bank President Christine Lagarde said in a speech on Tuesday citing recent remarks by German Chancellor Friedrich Merz.

Speaking in Oslo, Lagarde urged deeper integration to mobilise investment for the green transition, warning that Europe’s energy dependence had left firms struggling with costs “two and a half times higher” than in the United States, undermining competitiveness and pushing some industries towards relocation.

Access to “cheap, plentiful energy” will be essential if Europe wants to be on the Artificial Intelligence train, she said. “Steadfast policies” and faster permitting procedures are needed to accelerate renewable investments, arguing that this is the only way to get cheaper energy for Europe. (See MNI SOURCES: Doubts Over EU Carbon Pricing Key For ECB Rates)