Makhlouf: Capital goes where the opportunity is, and stays where it is trusted

Central Bank of Ireland Governor Gabriel Makhlouf today (Thursday 1 October) spoke at the Irish Funds Annual Global Funds Conference, where he set out why deeper, more integrated European capital markets matter for Irish households and the wider economy. Delivering this requires the financial services sector to take their opportunities, while ensuring trust is maintained. Governor Makhlouf said: "Capital goes where the opportunity is, and it stays where it is trusted." Reiterating that creating opportunity is Europe's task, by delivering a single market in goods, services and capital, and building capital markets deep enough to retain European savings and attract investment from abroad, he said the sector should take its opportunities related to technology and retail participation. “Innovations have the potential to transform our monetary and financial system. But for innovation to live up to its opportunity, it must be done well, with appropriate safeguards.” Turning to retail participation he said it could “be supported through well-designed and appropriate products, clear information, a strong regulatory framework and increasing levels of financial awareness, understanding an...