"Green Paper – Building a Capital Markets Union" - Stakeholder consultation by Rapporteur Mr Tadeusz TRUSKOLASKI (PL/EA – ECON)

23/04/2015   | Growth and Jobs , 11.00 a.m. - 1.00 p.m.| Room JDE 70, Rue Belliard 99-101, B-1040 Brussels
​Tadeus Truskolaski
The European Committee of the Regions (CoR) is currently preparing an opinion on the Commission's Green Paper "Building a Capital Markets Union" (COM(2015) 63 final) published on the 18th February 2015. The draft opinion will be discussed at the meeting of the Commission for Economic Policy (ECON) on the 7th May and the adoption of the CoR opinion is scheduled for the Plenary Session on 8th-9th July.

Since the financial crisis of 2007-2008 and the subsequent sovereign debt crisis, bank lending, upon which businesses in Europe have been traditionally more reliant when seeking funding, has been in decline and more sources of funding are urgently needed in order to boost growth and job creation. Companies across Europe, but especially in less developed regions, struggle to obtain financing that would help them to develop, innovate, and grow.

The Green Paper represents a first step on the road towards an integrated, transparent, well-regulated and liquid Capital Markets Union (CMU) for all 28 Member States. The goal of the CMU is to diversify the sources of business financing in Europe by breaking down the obstacles to the movement of capital between potential investors and the businesses and by attracting more investment into the EU from the rest of the world. European capital markets are fragmented and relatively underdeveloped and the cost of raising the capital relatively high. The European Commission intends to adopt measures aimed at reducing administrative burdens for both investors and issuers, diversifying the supply of funding and improving markets' effectiveness.

The CoR considers this initiative to have a strategic importance and wishes to actively participate in the development of the single market in capital. Regional and local experiences – due to their diversity and a multi-faceted approach – may influence the expected development of the document to be prepared. Cooperation between the Committee of the Regions and other European institutions can ensure solutions that will better meet the needs signalled by the market.

The CoR rapporteur will focus primarily on the Green Paper's proposals which will ensure better use of accumulated financial resources and allow greater access to capital for governmental entities. He considers that a single market in capital is a step leading to better implementation of the priorities of the European Union aimed at accelerated and sustainable growth and would like to encourage all actors to take appropriate action.
 
The rapporteur on the opinion, Mr Tadeusz TRUSKOLASKI (PL/EA), Mayor of the city of Białystok, together with his expert, Mr Wojciech Tarasiuk, would be happy to meet with representatives of local and regional associations and other stakeholders for a consultation and an exchange of views on the relevant topic of this opinion.

The consultation will take place on:
 
Thursday 23 April 2014 between 11.00 a.m. and 1.00 p.m.
 
in the Committee of the Regions building
(Rue Belliard 99-101, B-1040 Brussels)
 
Room JDE 70
 
The rapporteur would be very keen to hear your views during the meeting. After a short introduction by the rapporteur, stakeholders will be invited to exchange views with the rapporteur. Please visit our website regularly for possible further documents.
 
In addition, if you have any position papers relevant to the subject, you are welcome to send them to us by e-mail using the addresses below.
 
The meeting will be held in Polish with simultaneous interpreting, allowing you to speak in English and French as well. Please note that the rapporteur's mother tongue is Polish.
 
You can already register to participate in this debate to shape the rapporteur's views. For practical reasons, you are kindly asked to register your participation before 1.00 p.m. on Wednesday 22 April 2015 via this link.

For more information, please contact our team:
• For the ECON Commission secretariat: Ms Hana Slepickova, Tel: +32 2 282 2152
• For stakeholder relations: Dialogue
 

Contact:
Contact Person: Ms Hana Slepickova
Organizer: ECON Commission
Phone - Mobile: +32 2 282 2152 -  
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Email: