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Long-term financing

Europe’s pressing challenge is to put the EU back on the path of smart, sustainable and inclusive growth, creating jobs and enhancing competitiveness in the global market place. In responding to this task, Europe faces large-scale, long-term investment needs.

To fund these long-term investments, governments and businesses of all sizes need access to long-term financing. The capacity of the economy to make such long-term financing available depends on the ability of the financial system to channel the savings of governments, corporates and households effectively and efficiently to the right users and uses. Getting the long-term financing process right is central to supporting structural economic reform and returning to the long-run trend of economic growth.

The financial crisis has affected the ability of the financial sector in Europe to channel savings to long-term investment needs. An important question is whether Europe’s historically heavy dependence on bank intermediation in financing long-term investment will give way to a more diversified system with significantly higher shares of direct capital market financing and greater involvement of institutional investors and alternative financing.

Public Consultation on the possible impact of the CRR and CRD IV on bank financing of the economy – 15.07.2015

The Commission launched a consultation on the potential impact of Capital Requirements Regulation (CRR) and Directive (CRD IV) on the bank financing of the economy with a view to gather the stakeholders’ views and evidence.

Public hearing on the Next steps to build a Capital Markets Union - 08.06.2015

The European Commission hosted a public hearing on the “Next steps to build a Capital Markets Union” in Brussels on Monday, 8 June 2015. The conference was the first high-level public event after the end of the public consultation on the Commission Green Paper.

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Public consultation on Capital Markets Union - 18.02.2015

Which concrete steps should we take to achieve an integrated and well-regulated Capital Markets Union of the 28 Member States? On February 2015 the European Commission launched a public consultation to get a shared diagnosis of the problems and set out an agenda of the initiatives to take.

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High level Conference on “Finance for Growth – Towards a Capital Markets Union” – Brussels – 06.11.2014

The European Commission (DG Financial Stability, Financial Services and Capital Markets Union) and the Italian presidency of the EU Council chaired a conference on “Finance for Growth” at witch high level representatives of institutions, top financial corporations, policy makers and key stakeholders in this field exchanged views on perspectives for long-term finance in the UE.

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Communication on long term financing of the European economy – 27.03.2014

Green Paper on the long-term financing of the European economy – 25.03.2013

This Green Paper is accompanied by a Commission Staff Working Paper, setting out the underpinning analysis in more detail.