This session will first discuss the expected impact of the measures proposed in the September 2020 action plan to relaunch the Capital Markets Union (CMU) initiative, whether they are likely to be game-changers for the CMU and the remaining priorities to be pursued by the end of the current legislature.
The panel will also assess the key issues to address in the future stages of the CMU, whether there is a need to better integrate CMU policies with other key EU
such as the digital and green transitions or the EU strategic autonomy agenda and how to speed up the CMU process going forward.
Points of discussion
- Is there sufficient progress on building CMU and striking political agreements on the Commissions’ September 2020 CMU Action Plan? Can a significant impact on the growth and integration of EU capital markets be expected from implementing this crop of CMU measures and are the proposals planned by the European Commission for H12023 the most urgent actions to undertake by the end of the current political cycle (Retail Investment Strategy, open finance strategy…)? Will the March European Council conclusions provide the necessary fresh political impetus to complete CMU?
- What are the key issues to address for the future stages of the CMU and into the next EU political cycle? Is there a need to integrate more CMU policies with other key EU
such as the green and digital transitions and the EU open strategic autonomy agenda? Are changes in the macro-economic environment sufficiently taken into account in the CMU agenda? Is sufficient emphasis put in the CMU project on the objective of making EU capital markets more competitive at the global level in order to retain EU savings and attract external investments? How to speed up the CMU process going forward?