Sun. Dec 4th, 2022

The Economic and Monetary Committee urged Commissioner McGuinness to push EU countries to complete the Capital Markets Union and the Banking Union.

MEPs voiced their concerns that the EU’s capital markets are currently too fragmented to allow SMEs or small investors to make use of their money and invest in a sustainable way, during the Commission’s presentation of a new Capital Markets Union Package.

They underlined that EU investors should be able to access clear information about how sustainable their investment is. In addition, MEPs remarked on the lack of measures in the package to reduce fees and costs for retail investors.

MEPs urged Commissioner McGuinness to push the member states to make progress in the unfinished Banking Union and complete the European deposit insurance scheme.

Ms McGuinness stated that the completion of the Banking Union would result in a resilient banking sector and increase citizens’ trust in the system, but the member states were not making the progress they should have. She hoped that, next week, Eurogroup talks could pave the way forward.

Watch the meeting here.

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