CEPS © 2019

Banking fragility rooted in justice failures Evidence from Ukraine
Policy Contribution

EU Supervisory Cooperation Scaled Back at the Expense of Capital Markets Union

20 April 2015

EU Supervisory Cooperation Scaled Back at the Expense of Capital Markets Union

Making capital markets union a success can only happen by reinforcing supervisory cooperation and creating enforceable rules, which in turn require strong institutions functioning at the EU level. In this CEPS Commentary, Karel Lannoo argues that scaling back the European Supervisory Authorities – the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA) – is entirely counterproductive from that perspective. While the EU may have well-established institutions at the national level, he insists that capital markets union requires EU-wide rules for issuers, investors and intermediaries alike.

Karel Lannoo is Chief Executive and Senior Research Fellow at CEPS.


About the Author


EU Supervisory Cooperation Scaled Back at the Expense of Capital Markets Union
Download Publication

1867 Downloads