As the coronavirus crisis is set to cause the worst recession in the bloc’s history, to relaunch the EU economy in the aftermath of COVID-19 the European Commission is about to outline a new package of initiatives to deepen the capital markets union.
“The EU will come out of 2020 with higher debt, which could hold back investment and growth,” said Commission vice-president for financial services, Valdis Dombrovskis, last 6 May 2020, the day when the EU executive’s latest economic forecast was released.
“We should support equity and equity-like investments to protect workers and (the) financial sector. And work harder to create a Capital Markets Union to diversify funding sources for companies,” he wrote on Twitter.
According to EURACTIV.com, the new action plan will follow the presentation of the report by the high-level group on capital markets union chaired by former Eurogroup Working Group chief Thomas Wieser, planned for June.
The new action plan would also factor in UK’s exit from the EU.
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