Today, the Commission takes stock of the progress achieved in building a Single Market for capital, including as regards sustainable finance, and calls on EU leaders to keep up the political engagement to lay down the foundation of the Capital Markets Union. The CMU aims to make it easier for EU companies to get the finance they need to grow...
By breaking down barriers for cross-border investments in the EU, the CMU is an important Single Market project. It is part of the Juncker Commission's ambition to sustain growth in Europe, invest in innovation and promote the EU's global competitiveness. At the same time, the CMU aims to direct investment to environmentally friendly projects, thereby contributing to the EU's sustainable and carbon-neutral agenda. A strong Capital Markets Union is also necessary to complement the Banking Union and to strengthen the Economic and Monetary Union and the international role of the euro. Following the last progress report in November 2018 and the call by EU leaders for ambitious progress by spring 2019 on the Capital Markets Union, today's Communication takes stocks of substantial achievements with political compromises reached on several Commission's proposals, as well as important non-legislative actions. Valdis Dombrovskis, Vice-President responsible for Financial Stability, Financial Services and Capital Markets Union, said: “The Commission has delivered the essential building blocks of the Capital Markets Union. We need sustained engagement from the European Parliament and Member States to complete this effort. The success of the Capital Markets Union depends on the actions of Member States and stakeholders at national and EU level, through their national reforms and actions.” Jyrki Katainen, Vice-President responsible for Jobs, Growth, Investment and Competitiveness said: “By more efficiently connecting companies and investors across borders, the Capital Markets Union is essential to get companies, especially small ones, the financing they need to grow, thereby delivering on the Juncker Commission's priority to boost investment, jobs and growth.” The Commission has delivered all the measures it has committed to in the CMU action plan of September 2015 and in the mid-term review of June 2017, contributing to laying key building blocks of the CMU. Moreover, the Commission adopted two Delegated Regulations containing most implementing measures to finalise the Prospectus reform, another important milestone towards the completion of the Capital Markets Union.
