MADRID, 19 May. (EUROPA PRESS) –
The National Securities Market Commission (CNMV) has highlighted the “urgency and importance” of moving towards a “deeper and more complete” Capital Markets Union in Europe to achieve “deeper and more liquid” markets that have an impact, in definitively, in the potential of the continent’s economy.
According to a study on the state of the Capital Market Union (UMC) published by the stock market supervisor in its semi-annual bulletin, achieving these more liquid markets and open to a greater number of companies and citizens becomes more important than ever: “It would not only add economic value, but also unlock significant private investment potential across the region.”
The president of the CNMV, Rodrigo Buenaventura, has constantly maintained this line of argument and has gone so far as to say that the capital markets have to play a great role, since “they are going to be essential for the investment tsunami” that is about to happen. come.
This investment tsunami is a product of the transformation imposed by digitalization, decarbonization and the need to reactivate investment in defense, among others.
Buenaventura’s wish is aligned with the conclusions of the study prepared by the institution he presides, since the report confirms that there is a “growing consensus” in the convergence between figures and institutions on the need for coordinated action in this area.
The historical moment has also had to do with this: “the region seeks to recover from the economic impacts of the pandemic and strengthen its position on the global scene.” Furthermore, the CNMV has stated that the achievement of the UMC, a plan that was launched in 2015, is important because it allows reducing bank dependence by increasing the diversification of financing sources.
“Not only does it provide stabilizing benefits, but it has a direct impact on the long-term growth and well-being of an economy,” the CNMV has stressed the importance of this policy that aims to provide a common framework for the European Union (EU).
Regarding this greater convergence around the CMU, the Spanish supervisor has focused on the declaration of the European Council of April 17, in which it urged the European Commission to continue advancing in achieving the plan, placing emphasis on “the harmonization of national rules, the design of cross-border savings products and the strengthening of EU-level supervision over the most important market participants.”
For the CNMV, these aspects are “crucial” to eliminate barriers and promote a more integrated and efficient European financial market.