The Commission requested a bunch of 28 high-level capital markets specialists from throughout the EU to overview the progress that has been made because the Capital Markets Union (CMU) Action Plan was first launched in 2015. They had been additionally tasked with proposing new focused actions to additional advance the CMU. Today’s report addresses the consequences of the measures taken to date, the remaining obstacles in finishing the CMU, and the methods to beat them.
The High-Level Forum requires sturdy and rapid political assist and coordination amongst all EU establishments to push ahead daring reforms in order that the CMU can ship on its guarantees. The interim report will feed into the Group’s suggestions that can kind a part of its closing report in May 2020. This work shall be an vital enter into the Commission’s personal reflections when growing its subsequent Action Plan on the Capital Market Union later this yr.
Financial Stability, Financial Services and Capital Markets Union Executive Vice-President Valdis Dombrovskis stated: “We remain committed to advancing the Capital Markets Union agenda. We need to diversify funding sources for European companies and increase investment opportunities for European citizens. Well-developed and integrated capital markets are key to address the challenges posed by climate change, technological developments, and demographic changes. I am very pleased with the work of the High-Level Expert Group under the leadership of Thomas Wieser. I now look forward to the Group presenting its recommendations.”
The full report and particulars on the CMU can be found right here.