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Europe's commitment to a single capital market dates back nearly 60 years. Whilst huge progress has been made in terms of developing the Capital Markets Union (CMU), significant challenges lie ahead of us. Only recently, European leaders have begun a series of reforms that will reshape the financial architecture of the Eurozone, and which are crucial if the CMU is to work – the Banking Union and the Fiscal Union.

Without a European deposit insurance framework, however, the Banking Union shall remain an unfinished project. Indeed, there is as yet little consensus as to what a Fiscal Union in the Euro Area should involve. It appears that in the short to medium term, the fate of the CMU rests solely with the European Central Bank.

This Lunch Debate will focus on the prospects of the CMU. Is it possible to create a CMU without first having completed the Banking Union and implementing a Fiscal Union? Are European leaders willing to enforce greater fiscal integration?

Speakers

Niall Bohan

European Commission, DG Financial Stability, Financial Services and Capital Markets Union (FISMA)

Rolf Strauch, PhD

European Stability Mechanism (ESM)

Natacha Valla, PhD

European Investment Bank and CEPII - leading French think tank in international economics

Moderation: Laura Noonan

Financial Times, London

Additional information

Participation is by personal invitation only

Flyer

Flyer (as PDF, 692 KB)

Contact

E-mail: LunchDebates@zew.de

The Capital Markets Union: Possible Without the Banking and the Fiscal Union?

Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
The debate participants and moderator before the debate (l-r): Niall Bohan, Laura Noonan, Natacha Valla, Rolf Strauch ...
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
Sascha Steffen and Daniela Heimberger (both research department heads at ZEW) welcome Simon Simon MEP (l-r) to the ...
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
Rolf Strauch, chief economist of the European Stability Mechanism (ESM), conversing with guests. © FKPH
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
ZEW Researcher Oliver Lerbs (left) in conversation with a guest at the Lunch Debate. © FKPH
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
Johannes Jung, head of the Representation of the State of Baden-Württemberg to the EU, welcomes the guests. © FKPH
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
Head of one of ZEW’s research departments Sascha Steffen during his presentation. © FKPH
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
Head of one of ZEW’s research departments Sascha Steffen during his presentation. © FKPH
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
Experts from EU institutions, associations, NGOs and other Permanent Representations attended the debate. © FKPH
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
The panel engages in a lively discussed over the capital market union. © FKPH
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
The event was moderated by the “Financial Times” journalist Laura Noonan. © FKPH
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
Niall Bohan, from DG FISMA at the European Commission, during the debate. © FKPH
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
Rolf Strauch, chief economist of the European Stability Mechanism (ESM), explains his point of view. © FKPH
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
Natacha Valla from the European Investment Bank and deputy director of the French economics think tank CEPII on the ...
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
Head of one of ZEW’s research departments Sascha Steffen during the debate. © FKPH
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
Questions from the audience. © FKPH
Questions about the Capital Markets Union were discussed at ZEW Lunch Debate
The audience engages in the discussion. © FKPH

Picture gallery at Flickr

Date

15.06.2016 | 12:00 - 14:00

Event Location

Representation of the State of Baden-Württemberg to the European Union, Rue Belliard 60-62, B-1040 Brussels

Executive Directors Professor Achim Wambach and Thomas Kohl

Executive Directors

Achim Wambach, President
Thomas Kohl, Managing Director

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