There needs to be a capital markets union to solve EU innovation problems

German Chancellor Olaf Scholz says EU banks need ability to move capital across bloc. Scholoz: Banks in EU should be able to move their capital freely throughout bloc. Many executives in the sector have voiced a demand voiced by many executives in sector. Olaf says banks in the EU need the ability to freely move capital freely.

Olaf Scholz adds to calls for capital markets union to solve EU innovation woes. German chancellor said he is frustrated by stories of German entrepreneurs tempted away to the US by hundreds of millions in private investment. He said he wants to allow more private funding to flow into European start-ups.