European Capital Markets Union Post-Brexit
In this paper for the
Center for International Governance Innovation, Miranda Xafa concludes that Brexit represents a setback, as the United Kingdom has by far the deepest and most liquid capital markets in the European Union, but that it also provides an opportunity to launch a more ambitious agenda for a Capital Markets Union (CMU) agenda encompassing the remaining 27 EU members. The author covers four areas: The motivation for a CMU and the expected benefits for the European economy and financial system; the road map for its implementation after the Brexit vote; the role of the
European Securities and Markets Authority vis-à-vis national supervisors; the identification of and removal of obstacles to cross-border capital markets transactions; and the policy and reform priorities given the complexity of the task
https://www.cigionline.org/sites/default/files/documents/Paper No.140web.pdf
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