EU ministers give strong support to capital markets union idea

April 25, 2015 12:17 PM

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RIGA, April 25 (Reuters) - European Union finance ministers gave strong support on Saturday to the European Commission's proposal of a capital markets union, which would boost economic growth by giving companies wider access to capital across the 28-nation bloc.

Unlike in the United States, where companies rely mainly on shares or bonds to raise money for development, in Europe small and medium-sized firms go primarily to banks to borrow money and do so within national borders.

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