NFU Press Release on the future of the Capital Markets Union

NFU's General Secretary, Carin Hallerström, responded to yesterday's public hearing by the European Parliament's ECON committee on the future of the Capital Markets Union (CMU). The hearing featured Enrico Letta and Christian Noyer, who have been advocating for a strong push toward establishing a real European Capital Markets Union, as highlighted in the Draghi report.

Nordic financial unions inside the EU and EEA see the writing on the wall. We say yes to less fragmentation and more harmonisation, more integration of supervision and a European pension system that boosts pension funds as institutional investors as long as meaningful social dialogue is safeguarded. However, we warn that competitiveness should not be used as an excuse to delay, dilute, or reverse important legislative achievements made in recent years. 

expressed Carin Hallerstöm, General Secretary NFU

NFU and its trade union members from all five Nordic countries have been arguing for and stand by the European Green Deal as far as applicable to the financial sector. Nordic finance workers acknowledge the need for the green transition and the pivotal role the industry plays in addressing climate change. Climate issues will not wait for trade issues or land conflicts to be resolved or for European competitiveness to take a turn for the better.