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EU launches consultation on capital markets union initiative

Xinhua, February 18, 2015 Adjust font size:

The European Commission (EC) on Wednesday launched a three-month consultation round concerning building a capital markets union.

The purpose of the consultation is to kick-start a debate across the EU over the possible measures needed to create a single market for capital, according to a statement.

The capital markets union plan aims to break down the barriers preventing cross-border investments in the EU and obstructing businesses from getting access to finance.

European Commission Vice-President Jyrki Katainen, who is responsible for jobs, growth, investment and competition, said: "Capital markets union is the first structural initiative that the Commission has put forward under the investment plan. It will contribute to ensuring that the investment plan is more than a one-off push and has a durable, positive impact on economic conditions in Europe."

"The free flow of capital was one of the fundamental principles on which the EU was built," said EU Commissioner Jonathan Hill, who oversees the EC's finance portfolio. Endit