Germany’s exchange carveout threatens EU financial market deal

Germany is pressing to exempt Deutsche Börse from planned European Union supervision, putting at risk a deal to integrate the bloc’s financial markets. Finance ministers are due to discuss the package at a dinner in Luxembourg on Thursday and may approve a negotiating position at Friday’s Ecofin meeting.

The compromise would leave the exchange under national oversight, a key objection for smaller EU countries. They argue the exemption would weaken the planned role of the European Securities and Markets Authority and could give larger countries an unfair advantage. Some may seek changes to the authority’s governance or funding in return for supporting a deal.

The package aims to make it easier for companies to find investors within the EU. Diplomats said positions remain divided, and some countries could block an agreement.

Read the full story at politico.eu.