The Capital Markets Union: Key Challenges

Pástor, Luboš and Franklin Allen
Authors registered in the RePEc Author Service: Lubos Pastor

No 12761, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: In September 2015, the European Commission announced the first actions of its plan to build a Capital Markets Union in Europe. We describe the key features of the Commission’s plan and discuss the economic rationale behind it. The plan has many strengths but also some weaknesses, such as limited ambition in the supervision and enforcement of securities regulations. Other challenges to the development of European capital markets include the financial transactions tax, the low-interest-rate environment, cultural reasons, and potential political opposition.

Keywords: Capital; markets; union (search for similar items in EconPapers)
JEL-codes: G18 G28 G38 (search for similar items in EconPapers)
Date: 2018-02
New Economics Papers: this item is included in nep-eec and nep-fmk
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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