Funding the Recovery: The Future Role of Traditional Banking and Capital Markets: Comparing the United States and Europe

Alexander Privitera

AGI Non-Resident Senior Fellow

Alexander Privitera a Geoeconomics Non-Resident Senior Fellow at AGI. He is a columnist at BRINK news and professor at Marconi University. He was previously Senior Policy Advisor at the European Banking Federation and was the head of European affairs at Commerzbank AG. He focuses primarily on Germany’s European policies and their impact on relations between the United States and Europe. Previously, Mr. Privitera was the Washington-based correspondent for the leading German news channel, N24. As a journalist, over the past two decades he has been posted to Berlin, Bonn, Brussels, and Rome. Mr. Privitera was born in Rome, Italy, and holds a degree in Political Science (International Relations and Economics) from La Sapienza University in Rome.

Policy Report 58

Since the 2008 financial crisis, the United States and Europe have sought to reform the banking industry in an effort to reduce future risks to the financial system and economy. This Policy Report compares the role of capital markets in the U.S. and Europe in supporting the real economy. It focuses on the link between traditional banking and the weak European recovery and highlights differences between the U.S. and Europe, in particular the euro zone and Germany. By comparing the current structure of financial markets in the U.S. and Europe, the author tries to establish whether the American and European financial systems are on converging or increasingly diverging trajectories and what the potential implications are for the real economy.

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The views expressed are those of the author(s) alone. They do not necessarily reflect the views of the American-German Institute.