This I say because a floating-rate loan typically transfers interest rate risk to borrowers who, unlike lenders, are far less endowed, in terms of expertise and capacity, to hedge and manage interest rate risk every which way one looks at it.
To propel the recovery forwards, Europe has a strong engine at its disposal: the Single Market, the EU’s greatest achievement for its citizens. As recognised by this Parliament just a few weeks ago, the Single Market is the source of our collective prosperity and well-being. So it is crucial that we repair, strengthen and deepen it in the coming months.