Publication

This paper reviews the European Commission's Capital Markets Union (CMU) action plan, which would allow EU economies to grow faster by removing barriers to cross-border investment. In particular, the text 1) looks at the reasons behind the CMU; 2) assesses the likely impact Brexit will have on completing the plan; and 3) summarizes the lessons learned from similar EU initiatives over the last three decades, basically to help gauge how likely it is that the CMU will deliver on its promises.