The EMU Lab hosted this event on 14 May in Florence, with moderation by Politico journalist Kathryn Carlson. Featuring discussions and debates on fundamental principles, political economy, and policymaking, the conference started with introductory remarks from EUI Professor Thorsten Beck. Subsequently, Professor Marco Pagano from the University of Naples Federico II delivered a compelling lecture on the importance of a Capital Markets Union (CMU).
During the initial panel, attention focused on diagnosing the CMU's challenges and outlining the necessary steps for its realisation. Professor Lucia Quaglia from the University of Bologna, Tatyana Panova of the European Commission, and Karel Lannoo from CEPS, discussed why it has not yet become a reality, and highlighted the pivotal role of establishing a functional CMU.
The second panel tackled a fundamental question: how can the EU effectively achieve a functional CMU? Contributions from Nicolas Véron of Bruegel and Lorenzo Bini Smaghi from Société Générale shed light on potential pathways toward this ambitious goal.
At the conclusion of the event, EUI Professors Marco Buti and Giancarlo Corsetti underscored the evolution of the EU's vision for the CMU, emphasising its divergence from past iterations. Additionally, economist Thomas Wieser provided further insights during the dinner remarks.
---
The Economic and Monetary Union Laboratory (EMU Lab) is a collaborative initiative driven by the Tommaso Padoa-Schioppa Chair and the Pierre Werner Chair, aiming to reassess the Economic and Monetary Union's structure in light of current European and global economic conditions.