Communication on completing the Capital Markets Union by 2019

Background information:

The European Council of June 2016 called for 'swift and determined progress' regarding the Capital Markets Union, while the Council of the European Union highlighted the importance of completing the CMU by 2019 on several occasions, like in July 2017 where it renewed its commitment to the agenda and the actions proposed by the mid-term review. A resolution adopted in January 2016 by the European Parliament also acknowledged the important role of capital markets.

The Commission shows its commitment to put in place all building blocks of Capital Markets Union by mid-2019. The need to progress with Capital Markets Union is made even more urgent by the future departure of the United Kingdom, as the EU's largest financial centre leaves the Single Market.

This Communication provided the context for a new set of proposals and other documents aimed at completing the Capital Maarkets Union, launched in parallel on the same day.

The European Commission published on 8 March 2018 a Communication setting the tone of the way forward for the completion of the Capital Markets Union (CMU).