European Investment Bank President Nadia Calviño said Brexit has played a central role in the difficulties the European Union has faced in integrating its capital markets.
"We shouldnt underestimate the importance of Brexit," Calvio told Bloomberg Television. "London was Europes financial market, and after Brexit we have divided our forces."
Calvio framed the issue as part of a longer-running effort inside the EU to broaden and deepen its pool of capital so it can better compete with the United States. She noted that finance ministers have debated the topic for more than a decade, but that those discussions have produced limited concrete results.
Her remarks follow a comment from European Central Bank Governing Council member Olaf Sleijpen, who told a London audience that closer cooperation between the EU and Britain could help bring the blocs capital markets closer together. Calvio said she hopes 2026 and 2027 will be a game changer for the region in terms of financial integration.
Beyond capital markets, Calvio emphasized the EIBs continuing priorities. The bank remains focused on the green transition, she said, despite indications that some member states have stepped back from aggressive climate policies in recent years.
"Europe needs to break free of the excessive dependence on fossil fuels," she said. "We need to regain energy autonomy." The EIB is directing efforts toward that objective while also placing emphasis on strengthening EU defense capabilities and advancing technology leadership.
"The world seems to be turning faster," Calvio said. "So we need to gain speed." The statement framed the banks strategy as one that seeks both strategic independence and the capacity to move more rapidly on key policy priorities.
Calvios professional background was noted in the discussion. She served as Spains deputy prime minister and economy minister before taking up the EIB presidency in 2024. Observers have at times suggested she could be considered for a senior role at the European Central Bank, a topic she addressed directly.
Asked about the prospect of running for the ECB top job, Calvio said there are strong Spanish candidates and strong candidates from other member states, but she ruled out a personal candidacy, stating, "I am definitely where I should be."