EU market integration and efficient supervision

Background

In December 2025, the European Commission presented a package of measures aimed to remove barriers and unlock the full potential of the EU single market for financial services.

The package is key to the Savings and Investments Union (SIU) strategy, which is designed to create a more integrated, efficient, and competitive financial system that can better support European people and businesses.

The EU needs more integrated capital markets to strengthen its economy and achieve strategic priorities such as competitiveness, digital and green transitions, defence and security.

Despite some recent progress, EU financial markets remain significantly fragmented and lack competitiveness, thereby failing to take advantage of potential economies of scale and efficiency gains.

Key points

The EESC:

• calls on the co-legislators to support the objectives and measures set out in the European Commission’s proposals, particularly on central supervision by ESMA; 
• stresses that more ambitious reforms are needed, for instance on reducing remaining overlapping reporting obligations across sectoral legislation and increasing transparency of systematic internalisers; proposes to consider establishing a category of ‘covered cross‑border bonds’ for large private placements under an EU‑level rulebook with ESMA supervision;
• considers that capital markets contribute to capital allocation and reflect a society's confidence in its own future, and calls on Member States to commit firmly to capital markets integration and to develop local markets.

Additional information

Section: Economic and Monetary Union and Economic and Social Cohesion (ECO)

Opinion number: ECO/694

Opinion type: Mandatory

Referral: COM(2025) 941 final 2025/0381 COD COM(2025) 941 final 2025/0381 COD COM(2025) 942 final 2025/0382 COD COM(2025) 942 final 2025/0382 COD COM(2025) 943 final 2025/0383 COD COM(2025) 943 final 2025/0383 COD

Rapporteur: Antonio García Del Riego (Group I - Spain)

Date of adoption by section: 25 February 2026

Result of the vote: 44 in favour, 0 against, 0 abstentions

Date of adoption in plenary: 18-19 March 2026

Result of the vote: 177 in favour, 0 against, 0 abstentions

Contact

Marco Pezzani

Press Officer

Tel.: +32 2 546 9793 | Mob: +32 470 881 903

E-mail: marco.pezzani@eesc.europa.eu 

Sergio Lorencio Matallana

Administrator

Tel.: +32 2 546 9240

E-mail: sergio.lorenciomatallana@eesc.europa.eu