Capital Markets Union: time for renewed efforts to deliver for investment, growth and a stronger role of the euro

Summary:

On 28 November 2018 the European Commission presented a communication calling for renewed political engagement and efforts to complete key building blocks of the Capital Markets Union (CMU) ahead of the European elections in May 2019.

Further information:

Completing the CMU is essential to make Member States' economies and Economic and Monetary Union more resilient, to safeguard financial stability, strengthen the international role of the euro and diversify sources of finances for small and medium-sized companies in particular. The CMU will offer more choice to consumers, allowing them to buy cheaper and better investment products, and will enable financial services providers to scale up by offering their services in other Member States.

In this Communication, the Commission recalls the key CMU building blocks it has delivered over the past three years. These include important proposals for the creation of new opportunities across the Single Market for businesses and investors through new EU-wide products and services, through simpler, clearer and more proportionate rules, as well as a more efficient supervision of the financial industry. So far, 10 out of 13 proposals putting in place the building blocks of the CMU are still under discussion by the EU co-legislators.

The Commission called on the European Parliament and the Council to put in place all main building blocks for a complete Capital Markets Union before the European Parliament elections in May 2019. This Communication is complementary to the Third progress report on risk reduction in the Banking Union, adopted on the same day.

Official

European Commission: Press Release, 28/11/2018: Commission reports on progress in risk reduction in the Banking Union and calls for faster progress on Capital Markets Union ahead of EU Leaders' meetings http://europa.eu/rapid/press-release_IP-18-6548_en.htm

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