But there are also certain risks associated with the project, for example related to the concentration of market power or to counterparty risks. These and other questions surrounding the envisaged merger are currently being examined by the European Commission. 3/4  BIS central bankers' speeches  Looking at the EU, the Capital Markets Union project must be continued.
The overall atmosphere over this historical period was marked by a clear sense of optimism and a good deal of confidence on the part of the European Union and the countries that belonged to the Union or wished to join it. Not that there were no problems, but there was a feeling that these could be solved one way or another.