IIF Welcomes Progress on EU Single Market and Capital Markets Union

April 29, 2024

The Institute of International Finance (IIF) welcomes the latest discussions from the European Council meeting on 17-18 April, where EU leaders affirmed their commitment to enhancing the EU's economic competitiveness.

IIF President and CEO Tim Adams commented, "An expanded and cohesive European capital market is vital for the EU's competitive edge on the global stage. We are at a critical juncture where the maturation of EU member state capital markets into a unified and substantial market is more pressing than ever. The future growth and competitive stance of the region depend on it."

The IIF sees the Council's focus on both deepening the single market and advancing the Capital Markets Union (CMU) as crucial for establishing a globally competitive and prosperous Eurozone economy.

"We are encouraged by the renewed emphasis on enhancing the single market and the strides toward financial integration necessary for achieving the EU’s strategic objectives,” said Adams. “We eagerly anticipate further details on the CMU project's expansion into a Savings and Investments Union and strongly urge EU legislators to take forward the European Council’s resolve in shaping the Union’s strategic agenda."

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 TwitterLinkedIn or YouTube, or check out IIF’s podcasts.