Source: European Parliament
We address the role of the Banking Union (BU) in promoting market integration and the lessons it provides for the Capital Markets Union (CMU). First, we tackle BU’s establishment, exploring whether it has achieved its original goals and discussing its main shortcomings. Second, we address market integration in the BU. Third, we advance some proposals to finalise the BU accelerating effective market integration. Fourth, we explore various BU-CMU interconnections, introducing policy-related considerations to support the development of a well-functioning CMU.