Markets4Europe: making financial markets accessible for all

ABBL Published 04.10.2019

The “Markets4Europe” initiative

Rallying under the banner “Markets4Europe”, a group of former political leaders and senior officials, with the support of the European Banking Federation (EBF) and Luxembourg Bankers’ Association (ABBL), is joining the industry in an initiative to revitalize efforts around the Capital Markets Union (CMU).

Five years following its launch, the CMU remains unfinished, with European markets still suffering from fragmentation and a lack of depth. Market participants are united in their conviction of the importance of the CMU and ask that the European Union initiate a series of reforms immediately.

To that end, members of the Markets4Europe initiative are keen on supporting European leaders in making sure the remaining obstacles to the CMU are removed.

Implementation of the CMU will equip market participants with the tools required to offer investment solutions to any type of investor, which will result in an increase in employment and growth.

Financial markets need to align themselves with the development of the banking sector in terms of:

  • Efficiency,
  • Stability and
  • Dynamism,

Thus ensuring a high degree of investor protection.

Financial markets are fundamentally important to innovation, competition, inclusive growth and financial stability inside the EU.

Europe is the world’s most powerful economic bloc, harbouring a particularly well-educated, diverse and mobile population. As a consequence, it is crucial to ensure an innovative and entrepreneurial environment in Europe.

Challenges

Markets4Europe ambitions to find efficient solutions to five fundamental challenges for Europe, which read as follows:

  1. Financing innovation in order to support economic expansion
  2. Savings and investments with a view on an ageing population
  3. Promoting stability and risk-sharing
  4. Supporting sustainable development
  5. Reinforcing the sovereignty of the EU within the global economy

Leadership

The political leadership of Markets4Europe is composed of former European political leaders and senior officials:

  • Vítor Constâncio, Former Vice President of the European Central Bank and former Governor of the Bank of Portugal
  • Martina Dalić, former Deputy Prime Minister and Minister of Economy and Finance, Croatia
  • Enrico Letta, former Prime Minister of Italy
  • Christian Noyer, former Governor of the Bank of France
  • Viviane Reding, former Vice President of the European Commission, Luxembourg
  • Peer Steinbrück, former Minister of Finance, Germany

These six personalities will promote the strategic reforms needed to achieve a genuine CMU. These proposed reforms are outlined in a detailed report. The drafting of this report was supported by a round table composed of business leaders with activities in the capital markets (corporates, lenders, markets infrastructure providers and investors). For instance, Robert Scharfe, CEO of the Luxembourg Stock Exchange, has contributed to the identification of some of the most pressing obstacles as well as the most promising solutions in the context of the CMU.

Key dates

Markets4Europe was officially launched on October 2, 2019 at a symposium in Brussels. This initial event will be followed by a pan-European conference cycle between November 2019 and June 2020, with a view on promoting awareness of the proposed reforms throughout the EU member states and the creation of political consensus.

The first conference will take place in Paris on November 28, 2019, followed by a meeting in Berlin in January 2020.

On February 25, 2020, Luxembourg will host a Markets4Europe event and further events in other European capitals are planned in March and June.

Additional information

You can find more information on the official website of the campaign: www.markets4europe.eu

 

Contact

Association des Banques et Banquiers, Luxembourg

Address

12, Rue Erasme L-1468 Luxembourg

Phone Fax
Opening hours

Monday to Friday from 8:00 to 17:30.