IIF Supports Eurogroup’s Proposals for Taking Forward Capital Markets Union in Europe

The Institute of International Finance (IIF) today expressed its support for the recent letter from Eurogroup President Paschal Donohoe to Euro Summit President Charles Michel. This significant correspondence outlines the Eurogroup’s urgent message to political leaders to take urgent action to further take forward the Capital Markets Union (CMU) in the European Union, and aligns with the IIF's mission of promoting global financial stability and economic growth.

“The advancement of these recommendations represents a step forward in the pursuit of more integrated and efficient European financial and capital markets,” said IIF President and CEO Tim Adams. “Robust, unified, and investor-friendly European financial markets will not only enhance retail participation, but also strengthen the overall economic resilience of the EU.”

The IIF applauds the Eurogroup’s dedication to increasing the attractiveness of capital markets for funding, fostering equity financing, and scaling up sustainable finance. To further these goals, a clear next step is turning these recommendations into an action plan with concrete deliverables.

The IIF looks forward to the discussions at the Euro Summit on March 22, 2024, and remains committed to collaborating with global stakeholders in advancing these vital initiatives for the betterment of the international financial community.

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About the Institute of International Finance (IIF)

The Institute of International Finance (IIF) is the global association of the financial industry, with about 400 members from more than 60 countries. The IIF provides its members with innovative research, unparalleled global advocacy, and access to leading industry events that leverage its influential network. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial, and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, professional services firms, exchanges, sovereign wealth funds, hedge funds, central banks, and development banks. To learn more about IIF, please visit www.iif.com, follow us on Twitter, LinkedIn or YouTube, or check out IIF’s podcasts.