Europe's Untapped Capital Market: Rethinking Integration After the Great Financial Crisis

Published in 
Centre for European Policy Studies 1 Place du Congrès/Congresplein 1000 Brussels

After a year-long exercise with a wide group of stakeholders, including academics, policy-makers and industry experts, CEPS and ECMI will launch the final report of the European Capital Markets Expert Group (ECMEG): Europe's Untapped Capital Market: Rethinking Integration After the Great Financial Crisis.

The Final Report is a comprehensive overview of financial integration in Europe and major barriers to capital market integration. The Capital Markets Union (CMU) project is an opportunity to rethink integration after the recent financial and sovereign crises. Building on an extensive literature review and data analysis, the report assesses the role of private risk sharing to advance a union of capital markets and boost a dormant single market for goods and services. The report includes the following chapters: a brief history of the European Union policies for financial integration; why Europe needs more capital market integration; European financial market structure and integration in the CMU era; and how to design an action plan to identify and prioritise policy actions to overcome barriers to capital market integration. The report will be released on the day of the launch event.

Speakers and presentations

  • Diego Valiante, Head of Research, ECMI and Head of the Financial Markets and Institutions research unit, CEPS – Rapporteur to the ECMEG Group and Author
  • Francesco Papadia, Chairman of the ECMEG Group
  • Matthew Baldwin, Head of Cabinet, Commissioner Jonathan Hill, DG FISMA, European Commission
  • Thorsten Beck, Professor of Banking and Finance, Cass Business School, London 
  • Fabrice Demarigny, ECMI Board Chairman (moderator)

About the Report


  • Participation in ECMI-CEPS meetings is a benefit of ECMI and CEPS membership. ECMI and CEPS members register free of charge. Members of the Task Force, EU and national officials, academics and students, NGOs (not representing a commercial interest) as well as press are also admitted free of charge.
  • Other participants may be admitted for €175 (21% VAT included, to be paid upon recept of an invoice). If you have questions regarding membership or participation please contact veselina.georgieva@ceps.eu before registering.


For more information please contact veselina.georgieva@ceps.eu or call +32 2 229 39 78.