EU sets sights on new stimulus for capital markets union
Valdis Dombrovskis - Photo EC.
(BRUSSELS) - The European Commission launched a public consultation Friday with a view to developing faster and more ambitious progress towards a Capital Markets Union (CMU).
This consultation offers an opportunity for stakeholders to provide targeted input to complement and advance actions put forward in the CMU Action Plan.
"We have built good momentum behind the Capital Markets Union project and we are well on our way to completing the first wave of measures. Now, we want to move faster and be more ambitious", said Commission Vice-President Valdis Dombrovskis: "This mid-term review consultation will help shape the next phase of our work to build a single market for capital in Europe."
Commissioner Jyrki Katainen added: "We are determined to deliver on our commitments and the mid-term review will allow us to ensure that the Capital Markets Union Action Plan remains relevant in a changing political, economic and technological context."
Progress towards building a Capital Markets Union in the European Union is seen as crucial to strengthening the third pillar of the EU's Investment Plan for Europe.
CMU is expected to make an important contribution to creating a more investment-friendly environment. The Commission is hoping that it will also make it cheaper and more worthwhile for insurance companies and banks to invest in long-term infrastructure projects.
It is planned that the results of the Commission consultation will feed into the mid-term review of an Action Plan for the Capital Markets Union that the Commission is aiming to publish in June 2017.
The review will seek to strengthen the current policy framework for the development of capital markets by updating the proposed actions and integrating complementary measures in response to key challenges.
Respondents are invited to provide evidence-based feedback and specific suggestions by 17 March 2017 through the online questionnaire.
Public Consultation on the Capital Markets Union Mid-term review - Q&A