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Making a Reality of Europe’s Capital Markets Union
Report

Making a Reality of Europe’s Capital Markets Union

André Sapir, Nicolas Véron and Guntram B. Wolff
Bruegel, 2018
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Editorial Rating

7

Qualities

  • Comprehensive
  • For Experts
  • Insider's Take

Recommendation

Financial stakeholders depend on robust capital markets in the United States; however, in the European Union, a capital markets infrastructure is far less developed. Economists André Sapir, Nicolas Véron and Guntram B. Wolff examine the development of the EU’s Capital Markets Union Agenda and its plan to strengthen the framework and operation of a unified EU capital market. getAbstract recommends this highly detailed but informative report to policy experts and financial executives interested in a deep dive into the policy direction of EU leadership.

Take-Aways

  • European Union nations depend, in large part, on banks as suppliers of liquidity and financing, but such major exposure to only one channel of funding can foster problems and financial instability. 
  • Because of the national diversity within the EU, leaders always faced difficulties in improving the cohesion and workability of an EU capital markets system. 
  • The goal of the Capital Markets Union (CMU) is to broaden funding resources to include “equity and bonds, securitization, lending from insurance companies and asset managers [and] venture capital.”

About the Authors

André Sapir and Nicolas Véron are senior fellows at Bruegel, where Guntram B. Wolff is the director.

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