Europe’s economic relationship with the United States is often described as resilient. In reality, it is indispensable and therefore dangerously exposed to policy shocks.

The European Economic and Social Committee (EESC) has adopted a comprehensive Opinion on the proposed revision of the Common Market Organisation (CMO) Regulation. While the EESC generally welcomes the Commission's efforts to simplify the regulatory framework and enhance the situation for farmers, it raises critical concerns regarding the balance between political ambition and the financial resources available.

The EU Commission has proposed to eliminate barriers to integration of asset management, trading and post-trading services, to improve supervision and to further integrate capital markets. This proposal is a core part of the Savings and Investments Union and a long-awaited reform that the EESC has long called for. The proposal includes measures the EESC has repeatedly recommended in different Opinions, such as the central supervision by the European Securities and Markets Authority (ESMA) of capital markets infrastructure operators with significant cross-border activity. We also welcome the efforts to facilitate innovation and remove regulatory obstacles to the use of Distributed Ledger Technology (DLT), which are decentralised digital system for sharing and synchronising asset transactions without the need for a central authority.