Madeline Antonik Discusses Capital and Labor Reforms Essential for SME Growth in Europe

In this insightful clip from the Milken Institute Global Conference, Madeline Antonik, Treasurer of the World Bank, emphasizes the critical need for labor and fiscal reforms in Europe to support small and medium-sized enterprises (SMEs). With a stark contrast between European and U.S. capital market structures, Antonik discusses the challenges SMEs face due to underdeveloped financial markets and the predominance of bank lending. She advocates for the European Central Bank (ECB) to accept loans to SMEs as collateral and to reopen the securitization market, aiming to revitalize capital flow to these vital economic engines. The discussion emphasizes the urgency of these reforms for stimulating growth and job creation in an increasingly strained economic landscape.