Public debate with Fabian Zuleeg, Chief Executive and Chief Economist, European Policy Centre (EPC)
Event type
Debate
Location
Online event
Belgium
Public debate on Reforms for a more resilient economy for all: the new EU legislature with Fabian Zuleeg, Chief Executive and Chief Economist, European Policy Centre (EPC)
The Capital Markets Union (CMU) is an initiative that was launched in 2014 with the aim of creating a single market for capital in the EU. Today, despite concerted efforts towards more integrated capital markets, such as the 2015 and 2020 Action Plans, the CMU remains incomplete. Yet, recent developments offer hope for renewed momentum. The statement of the Eurogroup in inclusive format on the future of the CMU, and the report "Much more than a market", by Enrico Letta, outline fresh proposals on how to further integrate financial markets in the EU and stimulate investment. Against this backdrop, this public debate will convene institutional actors and civil society stakeholders to take stock of current developments and discuss policy solutions for the upcoming parliamentary term.
The EESC is organising this public hearing to discuss the strengths and weaknesses of the legislative framework on securitisation, as well as risks related to securitisation and possible policy solutions.
In its opinion on 'Additional considerations on the euro area economic policy 2024', the EESC urges closer coordination of national budgetary policies and considers instruments like NextGenerationEU essential for future stability.
The EESC recommends including similar tools in the EU’s future financial frameworks to ensure resilience and fiscal sustainability.
The Committee calls for the completion of the Capital Markets Union to prevent investors from migrating to global markets, prioritising financial market stability and consumer protection, and highlights the need to fully implement the Banking Union by addressing regulatory disparities across Member States, creating a common deposit insurance scheme, and mobilising financial resources for European infrastructure projects.
Securitisation is the process of transforming a batch of debts into a marketable security, that is backed by the original debts. This process can increase the availability of credit, increasing investment and supporting economic growth in a way that increases competitiveness and improves labour market.
This own-initiative opinion will present a thorough description of the challenges and opportunities that come with securitisation, and provide concrete policy proposals for a possible future revision of the securitisation regulation.
Reporting requirements are key for the enforcement and monitoring of legislation, but can also lead to burdens on stakeholders. The European Commission, under the REFIT programme, is proposing to streamline reporting obligations and reducing administrative burdens with regards to financial services, the InvestEU programme and certain benchmarks, while allowing the reuse of data for innovation and research purposes.
Download format:
Download — EESK atzinums: Improving benchmarks and reporting requirements in financial services and investment support
