Capital Markets Union: entering a new phase?

Soon after the work of the Next CMU High-Level Group, the EU Commission set up its own High-Level Forum to discuss the continuation of CMU, with the final report to be launched on June 10th. It is expected that the Covid-19 crisis will sharpen focus on the real economy (SMEs and households) and the role of market finance in general, as recovery and resilience strategies will take centre stage. We are looking forward to an interesting debate on these topics, and also to drawing whatever lessons the crisis can offer in how market surveillance works in the EU, and how capable the financial sector is to withstand such unprecedented shocks.