Plenary Session: Further development of the Capital Markets Union (CMU): improving access to capital market finance, in particular by SMEs, and further enabling retail investor participation

Further development of the Capital Markets Union (CMU): improving access to capital market finance, in particular by SMEs, and further enabling retail investor participation (A9-0155/2020 - Isabel Benjumea Benjumea)

I voted against this resolution, in line with the Greens/EFA, because in it the European Parliament presents its opinion on the European Commission's new Action Plan for the Capital Markets Union.

We support the major goal of integrating European capital markets through strong regulatory harmonization and a joint European supervision model, with more consistent standards of consumer protection, but which also facilitates the move towards a long-term sustainable investment model.

However, this resolution, despite dealing with these major vectors, lacks ambition in the proposals presented and is hostage to an excessively liberal view of the role that financial markets should play in the economy, trying to weaken and simplify the existing financial legislation with the excuse that is necessary for a post-covid recovery.

We do not accept a deregulation of the financial system under a pseudo-objective of integrating markets, especially if it undermines the stability or protection of savings investments of European citizens.

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