Worth noting that policymakers in the EU have long recognised that Europe's small capital markets and over-reliance on banks is a problem and hampers economic r

Worth noting that policymakers in the EU have long recognised that Europe's small capital markets and over-reliance on banks is a problem and hampers economic recovery/growth. The Capital Markets Union project[0] is largely about trying to build deeper capital markets so that savers have other places to put their money and companies have other ways to raise financing. The rise of MMFs isn't necessarily a bad thing if that money can be effectively channelled back into the real economy. [0] https://finance.ec.europa.eu/capital-markets-union-and-financial-markets/capital-markets-union/what-capital-markets-union_en https://finance.ec.europa.eu/capital-markets-union-and-finan...