EIB's Calvino says US turmoil is pulling capital to Europe
In short
European Investment Bank President Nadia Calvino said recent market turmoil in the US is pushing investors toward Europe. She described Europe as a safe place for money during the unrest.
What the reporting says
European Investment Bank President Nadia Calvino said recent market turmoil in the US is drawing investors toward Europe as a safe haven. The comment points to capital flows favoring European assets during US volatility.
Why it matters
European Investment Bank President Nadia Calvino said recent US market turmoil is encouraging investors to move capital to Europe. The remark centers on Europe being viewed as a safer place for money during US volatility.