In Brussels on Monday 6 November, the Estonian, Latvian and Lithuanian finance ministers signed a Memorandum of Understanding (MoU) to stimulate the development of a regional capitals market.
The tripartite agreement identifies areas of cooperation and the reforms to be carried out by the three Baltic states in order to achieve their goal.
The Commission and the European Bank for Reconstruction and Development (EBRD), which were both represented at the signature ceremony, will support these efforts, for instance by creating a common regulatory framework for the covered bonds markets..
Describing the move as “another step on the road to creating Capital Markets Union”, the Commissioner for Financial Services, Valdis Dombrovskis, stated in a press release that the European Commission “fully supports regional initiatives to facilitate cross-border investments”. (Original version in French by Mathieu Bion)