The Capital Markets Union (CMU) was launched in 2014 by the European Commission to lower barriers to cross-border investment in the EU and to reduce Europe’s high dependence on bank funding.
As the United Kingdom withdraws from the European Union, the UK Government is expected to lay claim to a 200-nautical-mile fishing border off its coastal line.
One of the main objectives of post-crisis financial regulation has been the severing of the nexus between large banks and national sovereigns, such that private losses do not lead to taxpayer bailouts.