All articles tagged with #capital markets union
Germany, France, Spain, Italy, Poland and the Netherlands have urged Brussels to accelerate the Capital Markets Union to deepen cross-border finance and reduce fragmentation, suggesting some powers be shifted to ESMA; however, the plan still needs broad cross-border backing (15 member states representing 65% of the EU population) to move forward.
Germany has signaled a shift toward centralized EU financial supervision by backing Esma expansion, arguing a stronger, more coordinated EU capital markets is worth sacrificing some national control. Berlin and five other large EU economies are pursuing a common transition timeline for Esma to oversee large cross-border markets, with hopes to secure broader agreement this year, while still negotiating issues like joint debt and bank deposit backstops.