Assessing ways to establish an equal tax treatment of different sources of funding could thus be an important step forward. Moreover, distortions of investors’ decision making emerge from heterogeneous and in some countries inefficient national insolvency laws. Obviously, any such reform should take risks to financial stability and the potential for regulatory arbitrage into account. Further reading Buch, Claudia M. (2015).
Stellungnahme anlässlich der öffentlichen Anhörung des Ausschusses für die Angelegenheiten der Europäischen Union des Deutschen Bundestags zum Fünf-Präsidenten-Bericht zur Vollendung der Wirtschafts- und Währungsunion, 2. November 2015. Buch, Claudia M. (2014). The banking union – setting the course for better integrated and more stable financial markets in Europe? Speech at the Handelsblatt Annual Conference, Frankfurt am Main, 4 September 2014.