Mission Letters: Financial Markets

Philipp Eckhardt

Between 4 and 12 November, the Commission candidates will have to answer questions before the European Parliament. The touchstone will be the so-called Mission Letters, in which President Ursula von der Leyen assigns tasks and portfolios to the new Commissioners until 2029. The Centre for European Policy (cep) scrutinised the candidates, departments and EU initiatives, particularly with regard to the internal market and competition. The result: many things should have been more ambitious and structured.

cepInput

In the new legislature, the Commission's main objectives will be to create a savings and investment union, make further progress on completing the banking union, ensure that the EU framework for sustainable finance becomes more user-friendly, workable and efficient, ensure the protection of consumers and retail investors in increasingly digital and AI-driven financial services markets and make the digital euro a reality.

cep financial market expert Philipp Eckhardt attaches central importance to the creation of a savings and investment union. Obstacles to investments by private customers must be removed, competition-distorting commission bans avoided, advisory processes streamlined and citizens' financial literacy strengthened. In addition, the complete revision of the EU framework for sustainable finance should be prioritised. Eckhardt does not see the need for a digital euro.

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Mission Letters: Financial Markets (publ. 10.29.2024)	PDF	575 KB	Download