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Finland supports the development of a Capital Markets Union

Ministry of Finance
12.5.2015 16.15
Press release

Finland takes a positive view of the development of a Capital Markets Union in the EU. This initiative would ease cross-border access to capital for businesses, stabilise financial markets and contribute to economic growth.

In February, the EU Commission published a green paper, i.e. a public consultation on a possible Capital Markets Union. The Commission launched an extensive public consultation on the issue and Finland submitted a response on Monday 11 May,

emphasising the following:

  • The development of a Capital Markets Union must improve the liquidity of financial markets and opportunities for businesses to invest and obtain financing.
  • The related methods should not be determined before the impacts of the various options have been carefully assessed.
  • New regulations should only be issued if they clearly provide added value.
  • The solvency of credit institutions and insurance companies must not be jeopardised.
  • The EU must undertake measures to enhance the ability of public authorities to obtain information from other Member States.

More specific measures in the autumn

The Ministry of Finance prepared the response in collaboration with other ministries and heard representatives in the field. Parliament's Grand Committee commented on the issue on Friday, 8 May.

The EU Commission began the consultation in order to examine what measures would be required to promote the initiative in the short and long term. The Ministers of Finance of the Member States are scheduled to approve the conclusions on the Capital Markets Union in their June meeting. The Commission will present more detailed measures in the autumn.

Finland's response to the Commission's consultation

A Capital Markets Union to ease access to corporate finance (press release 18.2.)

Further information:

Päivi Leino-Sandberg, Senior Adviser, tel. +358 2955 30496, [email protected]