With regard to the Banking Union, we need to implement the remaining measures to ensure an effective and credible resolution framework, set up the common deposit guarantee scheme, and address remaining regulatory obstacles that unnecessarily penalise cross-border integration. To accomplish this, we need to ensure that greater risk-reduction will go hand in hand with greater risk-sharing.
The Capital Markets Union aims to break down barriers that block cross-border investments. Although we have had successful EU initiatives to boost investment – with the Juncker Plan having triggered some EUR 400 billion of investments – we need significantly more private financial risk sharing to support innovation and efficient allocation of capital.