The Eurogroup agreed on a statement on the future of the Capital Markets Union (CMU) in March and yesterday we took the first step towards its delivery.
The endorsement by EU leaders at the Euro Summit and the subsequent discussion at the European Council have confirmed the timeliness of the priorities we have agreed. Delivering a true CMU will not happen all at once as a single event but will evolve through consistent and concrete steps that collectively will deliver on the vision to which we have committed ourselves.
There are two broad avenues for follow-up on our statement – initiatives to be brought forward by the European Commission over the course of the next legislative cycle and measures at the national level. Ministers endorsed yesterday a high-level work programme on CMU which will ensure that the implementation of our agreement remains on the top of our agenda. This work programme will be taken forward by Ministers assisted by our Deputies, building on the relevant technical support structures. This will ensure that the Eurogroup in inclusive format remains seized of progress on the implementation of our agreement.
Source – Eurogroup