EU's six largest economies demand free movement of capital

The EU's six largest economies have called on the European Commission to accelerate the creation of a capital markets union. The aim is to strengthen European competitiveness and reduce dependence on the US and China.

The EU's six largest economies—Germany, France, Italy, Spain, the Netherlands, and Poland—have jointly appealed to the European Commission, urging the acceleration of the capital markets union process. These countries believe that Europe's stagnating capital markets need rapid reforms to boost the bloc's economic capacity.

The appeal is driven by concerns about Europe's competitive position in the global economy. According to the six major economies, the EU is overly dependent on foreign investment, particularly from the United States and China, and this threatens both economic growth and strategic autonomy.

The capital markets union concept involves creating a single European capital market where money moves more freely across borders. This would help companies find investors throughout the EU and allow citizens to invest across the bloc without excessive bureaucracy. Currently, fragmented capital markets hinder both innovation and economic growth.

The European Commission has been discussing the capital markets union for years, but progress has been slow. The joint appeal from the six major economies sends a clear signal that political pressure to accelerate reforms has increased, and new initiatives can be expected in the coming months.