Among others, the President of the European Commission, Jean-Claude Juncker, and Yves Mersch, Member of the Executive Board of the ECB, have promoted the concept of a capital markets union. To me, it would be a logical step to supplement the banking union with a capital markets union.
It would reduce fragmentation in European financial markets and, at the same time, enhance their efficiency and stability. Thus, it is certainly a goal worth pursuing. 5. Conclusion  Ladies and gentlemen George Washington is credited with having written, more than two centuries ago in a letter to a friend, that a United States of Europe would come into being.