MOSCOW (Sputnik) — Earlier in the day, European Commission Vice President Valdis Dombrovskis became the acting head of the EU office for Financial Stability, Financial Services and Capital Markets Union, after former Commissioner Jonathan Hill, a UK national, resigned in the aftermath of the Brexit vote.
"We need Capital Markets Union more than ever". @VDombrovskis at @EP_Economics: https://t.co/q7FjchidDJ pic.twitter.com/H9pML2Jthd
— European Commission (@EU_Commission) 6 July 2016
"Our organisations believe that the change of leadership to Europe’s Commissioner in charge of Financial Stability and Capital Markets Union triggered by the UK’s EU referendum could provide an opportunity for a well-needed re-think of the financial sector’s direction and purpose," the statement reads.
"As a result we are concerned that this will reintroduce the high risk financial strategies which caused the 2008 economic crisis," it was added in the statement.
No negotiation before notification. Access to the single market only if freedom of movement is respected. #EUref pic.twitter.com/PYxkJjVTWa
— European Commission (@EU_Commission) 5 July 2016
On June 23, the United Kingdom in a national referendum decided to leave the European Union. The decision sent global financial markets into frenzy, triggering changes of the global oil prices, currency rates and global financial indicators.
