In contrast, equity and foreign direct investment (FDI), and longer-maturity debt in general, are leading to a more resilient form of financial integration. One way to stimulate equity financing via the CMU agenda would be to reduce the existing bias towards debt in national taxation.
On the next day, September 30, the governments of Belgium, France, and Luxembourg injected capital into Dexia, a bank with assets of more than $ billion, and the Irish government guaranteed the deposits and most other liabilities of six large Irish financial institutions.