AFME has been a strong supporter of the Capital Markets Union (CMU) initiative – an EU project which aims to further integrate Europe’s Member States and reduce barriers to cross-border finance.
Efficient and well-developed capital markets are essential to meeting the financing and risk management needs of EU citizens, enterprises and public authorities. Importantly, an integrated and well-functioning CMU would help strengthen EU competitiveness and prospects for economic growth and job creation.
We also believe that the development of the CMU is a pre-condition for the success of the sustainable finance agenda and, therefore, the fulfilment of the EU’s climate change objectives.
The European Commission’s new legislative cycle that began in December 2019 provides an opportunity for policymakers, market participants and other stakeholders to re-launch an ambitious plan for further integration of European capital markets.
AFME’s yearly report “Capital Markets Union – Key Performance Indicators”, developed in partnership with European and international organisations, highlighted that while there has been progress on the CMU project, there are also areas in need of improvement (see video on CMU progress in Europe).
In this context, AFME has put forward recommendations: