{
  "id": 4137496,
  "title": "Acting together for a sovereign and competitive Europe",
  "url": "https://urgent.news/2026/08/10/acting-together-for-a-sovereign-and-competitive-europe",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-10T00:00:00.000Z",
  "source": {
    "name": "BIS Central Bank Speeches",
    "slug": "bis-central-bank-speeches",
    "url": "https://www.bis.org/speeches/20260810-acting-together-sovereign-and-competitive-europe"
  },
  "original_language": "en",
  "account": "Welcome to Frankfurt, a city that may appear small to those viewing it from Berlin. For many, Frankfurt is already familiar as a major capital city. However, this year, Frankfurt has been designated as the World Design Capital, the first time this title has been awarded to Germany. Design encompasses more than just aesthetically pleasing products; it involves developing innovative solutions to address today's challenges and driving change together. This perspective highlights the importance of good design for Europe in overcoming significant challenges. The Irish Presidency of the Council of the European Union has placed action and delivery as core priorities for its 2026 EU Presidency. The reporter emphasizes the need to focus on two key areas: the digital euro, as the foundation of a sovereign European payment system, and the savings and investments union, which aims to foster a competitive Europe. The European single market, which has been in place for over three decades, has proven to be a powerful engine for prosperity. However, there is still room for improvement and growth. In capital markets, in particular, there is an opportunity to capitalize on the potential for greater impact through joint efforts. European businesses often rely on venture capital from outside the continent, especially for scaling up and accessing capital-intensive financing rounds. By developing a more self-sufficient European financial ecosystem, firms can access the funding they need to grow within Europe itself. The potential exists, as Europe has substantial savings that could be redirected towards productive investments and innovative businesses, thereby enhancing the competitiveness of the region. The EU has made progress toward creating a savings and investments union, but further acceleration is desired. To this end, the reporter welcomes the ambitious One Europe, One Market Roadmap agreed upon by the Council, Parliament, and Commission. This roadmap includes crucial projects such as the EU Inc. corporate law regime, a revised securitisation framework, and a comprehensive market integration and supervision package. The Bundesbank supports these initiatives, advocating for a proportionate design and considering the role of central banks. The package also proposes digitalizing the financial sector, including the adoption of distributed ledger technology and central bank digital currency. The Bundesbank particularly welcomes the idea of adopting a 28th regime for digital securities, as this could promote consistency in securities law and help overcome fragmentation in the European financial market. By strengthening capital markets, improving payment infrastructure, and creating a digital ecosystem for tokenized market environments, Europe can bolster the international role of the euro and maintain its status as the second most important currency in the global monetary system.",
  "summary": "Speech by Dr Joachim Nagel, President of the Deutsche Bundesbank, at the meeting with the European ambassadors' delegation on the occasion of Ireland's Presidency of the Council of the European Union, Frankfurt am Main, 21 July 2026.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}