Objectives of the session
10 years after the creation of the Banking Union and 7 years after the launch of the first CMU initiative, European banking and capital markets remain fragmented within the EU.
On 19 January 2021, the Commission issued a communication which sets out how the EU can reinforce its open strategic autonomy in the macro-economic and financial fields.
The objective of this session is to take stock of progress on the first two pillars 18 months after the publication of the Communication of the Commission and to identify further priorities for the coming years.
Points of discussion
- How “autonomous” is the EU’s financial sector today? Is the aim for European financial autonomy on track given the lack of progress on Banking Union, the single banking market and CMU? What are the priority areas where the EU’s financial autonomy needs to be reinforced and why?
- What are the key drivers to deliver European financial autonomy by the end of the decade? How can Europe’s strategic autonomy progress without ensuring the convergence of Member States’ fiscal and structural policies?