Intriguing news from Brussels brings hope that there will be some relief to the perennial problem of affordable business finance, which many companies face. Recently published Green Paper proposals for a European Capital Markets Union (CMU), if realised, would result in capital being more readily available to SMEs and reduce reliance on lending from banks. Less reliance on banking finance The resultant borrowing environment would closely resemble the current situation in the US, where only 20% of business capital is loaned through banks (compared with around 70% in Europe). Investment funds, private equity and a growth in venture capital would…