European Capital Markets Institute


Please find a link to download the report here:

The 14th Annual European Economics and Finance Society (EEFS) Conference will be held in Brussels, Belgium, on 11th-14rd June 2015 at the Centre for European Policy Studies (CEPS). The...

You can download the report as well as presentations of speakers from the conference webpage:


Shaping Union in Europe's Capital Markets

The European Capital Markets Institute (ECMI) and the Centre for European Policy Studies (CEPS) are inviting market participants, policy-makers and academics to engage in debate on the future of Europe’s capital markets by joining a Task Force that will work with the European Capital Markets Expert Group (ECMEG). 


ECMI Commentary, October 2015. The European Commission’s new Action Plan for Capital Markets Union, unveiled on September 30th, consists in a nutshell of a short list of technical proposals and a longer one of (rather general) potential actions. Overall, the plan indeed proposes to achieve some short-term objectives, such as a reduction of listing costs for SMEs, but it lacks long-term vision. The plan bundles actions under rather generic objectives of long-term finance or cross-border investing.


ECMI Commentary, October 2015:  The concrete outcome of the Commission’s Action Plan for a Capital Markets Union (CMU) consists notably of a call for the removal of constraints to facilitate SME financing and recognition of the need to facilitate infrastructure financing and securitisation through changes to the solvency II Directive and the capital requirements Regulation.


ECMI Commentary, July 2015: The announcement of the creation of a capital markets union has led to a flurry of possible harmonisation proposals that could lead to new Action Plans that could preoccupy legislators for years to come.