A Long Term Vision for Europe's Capital Markets Union

Last Saturday in Riga (Latvia), I presented this paper to the EU's financial ministers and central bank governors gathered for the "informal ECOFIN" meeting, jointly with Bruegel's director Guntram Wolff. This was in response to a request from the Latvian Government, which currently holds the presidency of the Council of the EU. 

In the paper, we propose a definition of the Capital Markets Union agenda, an analysis of its rationale and potential economic impact, a concrete policy agenda, and a possible way to implement it with realistic sequencing, taking into account the European Commission's announcement of an "action plan" to be published later this year. 

Download the document here in PDF format in case the above link does not work.