BrusselsAlthough ’ is pushing for the rapid integration of a single market to advance its competitiveness agenda, EU countries are divided over rules for harmonising control of capital markets.
The divisions are largely due to the reluctance of some member states to transfer their national supervisory powers to the EU level; This is a recurring problem in the legislative process of the bloc.
The EU is accelerating its efforts to increase global competitiveness and reduce dependence on the US and China’e. To achieve this, member states are promoting a competitive agenda in which the integration of capital markets plays a central role.
The bloc aims to create a single market for capital by allowing money, including investments and savings, to flow freely across borders without regulatory barriers. Currently, capital markets are largely subject to national legislation, which creates a fragmented environment for businesses and investors.
Although some rules have been harmonized across the EU, their implementation, supervision and enforcement differ, contributing even more to fragmentation.
To solve this problem, the European Commission proposed to grant additional supervisory powers to the European Securities and Markets Authority ’ne (ESMA), which coordinates the harmonization of the rules and oversight of the EU financial markets.
But talks between EU finance ministers at the Brussels ’ on Tuesday showed no agreement and little progress at the technical level. This is despite expectations that member states will see results by June, an EU diplomat told Euronews’e.
Capital markets are environments where individuals, companies, and governments can raise and invest funds. They enable the trading of financial assets such as company shares and debt instruments.
Proponents of deeper integration argue that this will reduce costs and improve access to finance for companies, savers and investors.
According to the International Monetary Fund's 2025 data, internal barriers within a single market for services. %It is equivalent to a tariff of up to 110’.
The European Commission estimates that the market capitalization of EU stock exchanges in 2024 will be is ’ü level, while ABD’nin is %He said it was 270.
