The joint European Stability Mechanism-Florence School of Banking and Finance Conference on the European Union (EU) Savings and Investment Union (SIU) will gather senior researchers and high-level representatives from the public and private sector to discuss the benefits of capital market integration for the EU economy and policy priorities for advancing integration. The two-day event will feature an academic part, followed by a high-level policy forum. The conference is also part of the initiatives of two CEPR Research Policy Networks: European Economic Policy and Financial Architecture.
The discussions will particularly focus on the link of capital market integration with social welfare (equality, pensions, wealth, savings, literacy) and with the real economy (innovation, investments, productivity, growth) while also considering the structure of the financial system to support SME financing. The policy sessions will examine obstacles and potential remedies, national barriers, taxation, insolvency and pension regimes, and institutional barriers. Specifically, the Conference will discuss ways to increase retail participation in European capital markets, examine options for unlocking venture capital, and explore strategies to enhance complementarity between private and public financing efforts (e.g. through derisking instruments).
The Conference fits into the renewed attention to capital market integration within the EU priorities and the debate around SIU, as announced in the new European Commission Competitiveness Compass1 and articulated in the Savings and Investments Union strategy2. The Conference will be an opportunity to reflect on the Commission proposals, which include legislative and non-legislative measures, based on a top-down-bottom-up approach, where many actions to integrate markets are to be taken at the national level.
The Conference forms part of a new EUI-FBF initiative on CMU and reflects the ESM’s efforts to foster dialogue and cooperation across institutions and market participants to promote stronger resilience of the European financial architecture.
1 20250129 Competitiveness Compass
2 20250319 EC SIU Strategy
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CEPR
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