Търсене

Obstacles to businesses' cross-border operations and expansion constitute a major hurdle to an effective single market. The International Monetary Fund estimates that persistent barriers to the single market represent the equivalent of a 44 % and 110 % tariff on goods and services, respectively. The Letta report emphasised that a single business code would be a 'game-changer', making all business procedures – from establishment to end of activity – smoother and more transparent. To address this issue ...

This briefing provides additional economic background ahead of the public hearing of the Committee on Economic and Monetary Affairs on 8 April 2026. It complements EPRS briefings (here and here) on the recent Commission proposal on pensions of 20 November 2025, as well as on the revised regulatory framework for insurers (Solvency II) which will apply as of 30 January 2027. All initiatives aim to contribute to achieving the objectives of the Savings and Investment Union (SIU) by giving additional ...

The European Union's competitiveness and prosperity depends on an optimal allocation of resources, particularly savings, within the single market, yet EU capital markets remain fragmented. EU rules are mostly set out through directives, leaving Member States' supervisory authorities latitude in their interpretation and application of the rules. Therefore, although rules are enacted at EU level, the resulting uneven supervisory environment is considered a major cause of fragmentation of EU capital ...

This IA accompanies three proposals designed to support the establishment of the savings and investment union, as well as the EU's efforts to deepen capital market integration, strengthen supervision and foster innovation. Overall, the IA is meaningful, but could have been shorter, in line with the Better Regulation Guidelines. The IA identifies three problems and two drivers. While the consequences are well-defined across the different stakeholder groups, the scale and scope of the problem remain ...

The European Union's competitiveness and prosperity depends on an optimal allocation of private capital; however, although free circulation of capital is guaranteed by the Treaties, the EU's capital markets remain fragmented due to 'technical barriers' and legal uncertainties falling on cross-border investors and institutions. A major reason for that is that EU rules are mostly set out through directives, leaving Member States' supervisory authorities latitude in their interpretation and application ...

This briefing examines the European Commission’s proposal to recalibrate the EU securitisation framework within the broader context of the Savings and Investments Union (SIU). It explains how securitisation operates, why the European market remains structurally smaller than that of other major jurisdictions, and how the post-crisis regulatory architecture has shaped current market dynamics. The paper analyses the 2025 European Commission’s reform proposals to the Securitisation Regulation, the Capital ...

This briefing considers the relevance of neobanks for the Banking Union by discussing the nature of the phenomenon, its size and development so far and its prospects going forward. It also considers the benefits of neobanks along with possible challenges they pose for supervision and resolution, and for the institutional set-up of the Banking Union.

In this issue: ECB keeps key rates unchanged for the fifth consecutive time; ECB enhances repo lines for other central banks to support global liquidity and monetary policy transmission; Fed holds policy rates steady; Trade tensions have eased in the recent months; More than half of MPEP members consider the ECB’s monetary policy stance as appropriate, while around quarter find it slightly restrictive; Special focus on food inflation and labour market developments in the euro area

The European Investment Bank (EIB), part of the European Investment Bank Group (EIB Group) - which also includes the European Investment Fund, plays a central role in advancing the European Union’s investment agenda, combining substantial financing capacity with close strategic alignment to EU policy objectives. In 2025, the EIB Group achieved record levels of financing (EUR 100 billion of new financing), with particularly strong performance in climate action, energy security and economic, social ...

On 20 November 2025, the Commission published a package of two legislative proposals aimed at enhancing supplementary and personal pensions. The initiative comes at a time when ageing populations are putting increased pressure on state-based pension systems for future generations, and the EU's priorities, namely the green and digital transitions, defence and innovation, require significant private investment. Channelling citizens' savings into supplementary pensions would mitigate both issues simultaneously ...