Time to re-energise the EU's capital markets

Seven years since the launch of the Capital Markets Union (CMU), EU capital markets have neither significantly developed nor become more integrated. Instead, European capital markets are highly fragmented, market financing is limited, while the competitiveness of the financial services sector (and the EU’s economy in general) has been battered.

A new CEPS-ECMI study now calls for a different approach to create a more balanced financial system, which draws more efficiently on market finance and prioritises local capital market development measures.

Formed in April 2022 to examine how to address these failings, a Round Table of eight industry leaders representing market operators and infrastructures, banks, an asset manager, and a corporate entity active in the beverage industry, came together over a period of six months. The study is the result of their discussions, deliberations and research.

“Going forward, we need a pragmatic, measurable, and implementable approach that is based on a mutually beneficial relationship between the EU and all its Member States.”, Lieve Mostrey, Chair of the Round Table and CEO of Euroclear Group