Today 8 countries of the EU have expressed united position on creation of the single capital markets union. It will contribute to sustainable growth of economics, stability of the financial system and diversity of sources for funding of business within the EU. The statement has been signed by the ministers of Demark, Estonia, Finland, Ireland, Latvia, Lithuania, Sweden and the Kingdom of the Netherlands, a press release from the Lithuanian Ministry of Finance states.
Vilius Šapoka
© DELFI / Andrius Ufartas

"The capital markets union of is beneficial for all citizens, investors and companies of the EU. It is the most important step in attracting investors, creation of better conditions for business development, increase of funding opportunities and creation of well-paid job places, thus increasing added value of the economics," Vilius Šapoka, the Minister of Finance, said.

The Capital Markets Union Actions Plan shall facilitate in creation of the single capital market in all 28 states of the EU. It is important to work purposefully and to distinguish measures with the greatest impact on the plan – a review of the legal regulation of investment firms, promotion of the covered bonds and sustainable finance. Also, to use opportunities ensured by financial innovations in providing better and more convenient financial services for consumers and business.

Efficient supervision of financial markets and review of the system is one of the priorities in creation of the sustainable capital market union. Creation of the union is also influenced by national reforms. Ministers of 8 countries of the EU highlight importance of technical assistance of the European Commission in development of national capital markets.

Payment company Paysera cancels its STO

Lithuanian-owned payment services company Paysera has canceled its security tokens offering (STO),...

Baltic clothes retailer overhauling its chain

Apranga , the Baltics' leading clothing retailer, is overhauling its retail chain to improve the...

New proposal aims to unlock ‘black box' of the agri-food supply chain

Having banned unfair trading practices and improved producer cooperation, the European Commission...

Fighting cyber security threats: list of secure network's users approved

The Lithuanian government approved on Wednesday a list of institutions and organizations that will...

Lithuania changes anti-money laundering tactics

In a change of anti-money laundering tactics, Lithuania's authorities open pre-trial investigations...