EU Plans Centralised Capital Markets Supervision Despite Opposition

The European Council has called for an acceleration of efforts to enhance the EU's defense capabilities over the next five years, emphasizing the importance of collaboration with the U.S. and NATO. The Council also reiterated its commitment to improving border security and managing migration effectively, highlighting measures against human trafficking and smuggling. Concurrently, the European Commission has proposed to expedite the timeline for centralizing supervision of EU capital markets, aiming to facilitate finance for sectors including defense. Despite resistance from smaller member states, the Commission plans to present a concrete proposal by the end of this year, which seeks to integrate oversight of major financial infrastructures. This initiative is seen as crucial for unlocking significant private investment in the EU, estimated to add €470 billion annually. The ongoing debates reflect contrasting priorities among member states regarding financial regulation and defense readiness.