European Union leaders on Thursday agreed to align “relevant aspects” of their countries’ insolvency laws for companies, as part of broader efforts to integrate capital markets and make the bloc more competitive. EU leaders’ agreed to a declaration that commits to “harmonizing relevant aspects of national corporate insolvency frameworks,” among other measures to further integrate capital markets. The EU is struggling to compete with the United States and China, and commissioned former Italian prime minister Enrico Letta to come up with a plan. Letta’s 146-page report formed the basis of Thursd…