The Report of the High-Level Forum on the European Capital Markets Union (CMU):
European Savers one step closer to getting Sustainable Value for their Money
Brussels, 10 June 2020 – A little over 6 months after the European Commission (EC) launched its High-Level Forum (HLF) on the Future of CMU, the group of 28 experts has now published its “New Vision for Europe’s Capital Markets” with a list of key recommendations. Several of those have been proposed by BETTER FINANCE and endorsed by the Group, which is good news for EU Citizens as Financial Users.
BETTER FINANCE’s Managing Director, Guillaume Prache, was one of the only two representatives of EU Citizens as Savers and Investors out of the 28 HLF members. Despite being dwarfed by the at least 18 members representing financial intermediaries or working for them (including six executives of extra-large US financial institutions), BETTER FINANCE is pleased, and grateful for the EC’s help, that it could get through - at least partly - many of its Key Priorities published last year.
A CMU that works for people
Achieving “a CMU that works for people” has been a priority for BETTER FINANCE since 2015, when the European Union (EU) laid the foundation for a CMU that would at long last create the single market for capital and investment services decided more than 60 years ago in the Treaty of Rome, develop more direct funding for the real economy and provide better returns for EU citizens as pension savers: