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The CMU is the ace up Theresa May’s Brexit sleeve

The Capital Markets Union is one of Juncker's main goals. But can this risky project even work without the City's involvement?

By Diane James  

The CMU is a risk—but can it even function without the city of London? Photo: PA

In 2015 the European Union launched the Capital Markets Union. Designed to strengthen the economic and financial security of the EU, it is one of Commission President Juncker’s main goals.

The CMU is designed to expand the market for borrowing money for businesses by increasing the number of lenders, and introduce less traditional methods of fundraising, such as crowdfunding.  Its clearly-stated aim is to make the EU financial system more robust.

In its…

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