On Wednesday 29 January, the European Commissioner for Financial Services and the Savings and Investment Union, Maria Albuquerque, called for unity and action in the face of persistent challenges in implementing more integrated capital markets within the European Union.
Speaking at a Warsaw Stock Exchange forum, the Commissioner said that the wide diversity of tax and insolvency regimes between EU Member States highlights “how progress can only be achieved by working together”.
“I realise that some areas are more difficult to harmonise than others. For example, civil, company, and labour laws. But this makes it all the more important that we make progress where we can”, said Ms Albuquerque, calling on “the Commission, Member States, the European Parliament, and Industry” to seize the opportunity of the growing political momentum towards the Savings and Investment Union project (see EUROPE 13485/12, 13519/1).
“Taking steps to achieve our goals will require political courage [...] We are at a pivotal moment in Europe’s history. Challenge each other”, concluded the Commissioner. (Original version in French by Bernard Denuit)