Latvian central bank governor Mārtiņš Kazāks: 'Our financial markets are not fit for purpose'

"Europe is one of the world's largest economies, we have the talent, capital, technology, and market size to compete. Yet we struggle to turn these advantages into economic success. Our companies face barriers to expansion, our savings fail to finance innovation, our champions tend to be national rather than global, and productivity growth has disappointed for years.

Meanwhile, the world is racing ahead. Global competition is intensifying, technological change is accelerating, and ...