Europe's six largest economies have formally requested Brussels to expedite the integration of capital markets, emphasizing its urgency for "strengthening Europe's growth potential." The finance ministers of France, Germany, Italy, the Netherlands, Poland, and Spain are pushing for tangible progress on the "Savings and Investment Union."
Deeper, more integrated capital markets are seen as crucial for enhancing economic sovereignty and providing a robust foundation for financing common European priorities. The ministers specifically called for an agreement by summer on the Market Integration and Supervision Package (MISP), a legislative initiative designed to streamline financial market infrastructure supervision and improve cross-border fund distribution.
This push for integration also extends to digital payments. The six nations advocate for the promotion of private pan-European payment networks to rival US giants Visa and Mastercard, alongside accelerating the adoption of the digital euro. They highlight that US-based infrastructures currently dominate card payment processing, with Visa and Mastercard accounting for a significant majority of transactions.
The proposed revisions to the securitisation framework, aimed at simplifying requirements and reducing operational costs, are slated for approval by autumn 2026. The countries are also urging the European Parliament to support a comprehensive digital euro, encompassing both online and offline modalities, to establish a sovereign European payment solution.