This is delivering greater liquidity and lower costs of access to capital. Changes in EU legislation and approach These market changes are welcome. But they are not enough. We need to take an approach that combines sufficient investor protection with the dismantling of barriers to change and integration. Take financial reporting.
Information is of the essence to financial markets.
A common financial reporting language is just as important as a single passport for issuers if you want to compare financial information. We hope to see this legislation adopted around the turn of the year. The use of one global accounting language will greatly benefit European companies. It will help them to compete on equal terms for global capital. Investors and stakeholders will, at last, be in a position to compare company performance against a common standard.