Ireland accused of blocking Cmu goals by Enrico Letta

Ph Jonathan Singer on Unsplash

The European Union is working to further develop its Capital Markets Union to attract investments and better funding possibilities for companies and give Eu citizens the opportunity to invest their savings more productively in Europe, but smaller financial markets (like Ireland) are slowing down, Enrico Letta has denounced.

Open, well – functioning and integrated capital markets are essential for the Eu to further develop its single market and attract investments. They promote growth and innovation, create jobs and enhance competitiveness.

In recent years, the Eu has significantly improved the functioning of its capital markets by developing the Capital Markets Union (Cmu), an initiative to create a truly single market for capital across the Eu.

Despite significant progress in the growth of Eu capital markets in the past few years, the growth of EU capital markets has approached a level equivalent to nearly 50 per cent of GDP since 2014, there remains a notable gap in their development.

One of the goals of a more developed Capital Markets Union is to allow companies, especially SMEs, to diversify their funding sources. (Sergio Scialabba)

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