The capital markets unionAn extra feather to the EMU : are capital markets important for monetary policy?

The first 10 years of the Capital Markets Union (CMU) have been marked by minimalistic progress. The unfinished nature of the CMU has direct relevance for the ECB by affecting financing conditions in Member States and eroding the risk-sharing ability of the EMU, imposing a higher burden on the ECB to act as “the only game in town”. It has even bigger implications for the long-term investment opportunities and economic performance of the EU. This calls for a renewed approach and narrative on the CMU to gather political support to mov

Source: op.europa.eu