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Saturday, February 02, 2008

France And Israel Partnering Up In The Stock Market?

It looks as if the governments of France and Israel are opening their capital markets to each other, making it even easier for investors from either side to conduct business.

(Globes Online) The Israel Securities Authority and France's L'Autorite des March├ęs Financiers (AMF) have signed a memorandum of understanding (MOU) opening their respective capital markets to trade in securities issued by both Israeli and French companies. The agreement will be based on mutual reliance of both agencies on the regulation existing in the other's country. [...]

The Securities Authority noted, "The concept underlying the agreement is similar to the single passport principle used by EU countries in relation to the regulation and supervision of European financial markets. [...] This process permits the EU states to recognize and rely upon each other's regulatory regimes and thus to dispense with any additional regulatory requirements in excess of those of the issuing company's home member state."

This should make it much easier for French citizens to invest in Israel (and vice versa), boosting each nations respective economies.

Israel's economy is already doing very well thanks to tourism, although having more foreign money pour into the Jewish state can't help.

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