How close are we to a Capital Markets Union? ECMI Commentary No. 44 / 17 March 2017

Thomadakis, Apostolos (2017) How close are we to a Capital Markets Union? ECMI Commentary No. 44 / 17 March 2017. [Policy Paper]

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Abstract

The European Commission’s flagship initiative of the Capital Markets Union (CMU) aims to unlock funding for capital markets and find ways of linking investors and savers with growth. A number of very disparate measures will, it is hoped, have a cumulative but significant impact on the creation of a single market for capital. By the end of 2017, the Commission expects to have finalised and implemented the first phase of CMU measures, which include: an EU framework for simple, transparent and standardised securitisation; prospectus rules that facilitate access to capital markets and generate more, but less costly, financing opportunities; and improvements to the current venture capital and social entrepreneurship regulations.

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