The Capital Markets Union: Key Challenges
Franklin Allen and
Lubos Pastor ()
No 12761, CEPR Discussion Papers from C.E.P.R. Discussion Papers
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)
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