American finance: Leaving Europe behind, tables aren’t turning

TLDR:

• European banks and asset managers are struggling to regain their competitive edge relative to their American and Asian counterparts in the business of financing investments.
• Luxembourg for Finance, a public-private partnership focused on promoting the financial industry in Luxembourg, has published a report outlining strategies for European finance to catch up to the US.

European politicians are looking for ways to regain ground in emerging industries, such as green energy, that have been dominated by the US. However, American finance has continued to outpace Europe, leaving European banks and asset managers struggling to catch up. Luxembourg for Finance has published a report detailing potential strategies for European finance to regain its edge. The report suggests that tweaking regulations will not be enough to restore competitiveness and that more radical measures may be necessary.