Achieving a Capital Markets Union is an ambitious initiative. This report was developed in the context of the European Commission's initiative to support the development of an operational Capital Markets Union by 2019 and aims to tackle one specific dimension: the current level of integration of capital markets in the EU. In other words, our objective is to assess to which extent capital markets currently work as a single market within the EU.
To this end, our report provides an overview of the structure of capital markets and an in-depth analysis of the level of integration of capital markets in the EU. In addition, we have identified the main blockages preventing further integration of the capital markets and have concluded with observations that could be considered in order to ease the process of integration
Overall, we believe the Capital Markets Union initiative will foster a sustainable economic growth and we hope our report will be useful to define the priorities that should be set to reach the European Commission's objective