French Finance Minister Vents Frustration Over Slow Progress on EU Capital Markets Union

• French Finance Minister Bruno Le Maire posted an online rant about the EU's slow progress on a capital markets union, causing controversy • Some claimed Le Maire was signaling the EU would raid people's savings to fund public spending, but this is incorrect • The capital markets union aims to create a single EU investment market to boost cross-border investing • Progress has been very slow, frustrating Le Maire, but requisitioning savings is not on the agenda • Officials brushed off Le Maire's latest outburst as mostly bluster, knowing he is more cooperative in private