We support this work, and call on the co-legislators to make swift progress in the adoption of these proposals. To achieve CMU and reap the potential benefits that I have just highlighted, we will need to promote further harmonisation in areas that have so far been considered as long-term issues. We need to be ambitious in the pursuit of our objective.
In fact, CMU should be seen as a “structural reform” by which the legislators and policy makers at the EU and national level, but also market participants themselves, dismantle existing barriers to the cross-border functioning of the single market in capital. In this regard, tackling differences in insolvency law, taxation and company law will be highly relevant.