On 24 September 2020 the Commission adopted a new capital markets union action plan.

The aim of capital markets union (CMU) is to get money – investments and savings – flowing across the EU so that it can benefit consumers, investors and companies, regardless of where they are located. The COVID-19 crisis is making it more urgent than ever to deliver on CMU.

Market-based financing is essential to sustain the recovery and the return to long-term growth and to finance the green and digital transitions of our economy. In addition, CMU can contribute to a more inclusive and resilient society, notably by helping to meet the challenges posed by an ageing population. Lastly, integrated capital markets are crucial for the EU’s global competitiveness and its autonomy.

Key objectives and actions

The CMU action plan proposes 16 legislative and non-legislative actions with 3 key objectives:

1. Support a green, digital, inclusive and resilient economic recovery by making financing more accessible to European companies

2. Make the EU an even safer place for individuals to save and invest long-term

3. Integrate national capital markets into a genuine single market