EU eyes plan to deepen single market in March, accelerate capital markets union

The ​European Commission will present in ​March a plan to ‌deepen ​the European Union's single market of 450 million consumers and make it easier for companies to ‌operate across the EU, the Commission's head Ursula von der Leyen said. Speaking at a news conference after a meeting with EU leaders ‌on how to mare the EU economy more competitive, ‌von der Leyen also said the EU executive arm would push on with the long delayed capital markets union that would allow to invest more productively ⁠some ​10 trillion ⁠euros of savings now languishing on bank accounts.

"We agreed that we want to ⁠be done with phase one of the Savings and Investment Union, ​that includes market integration, supervision and securitization by June," von der ⁠Leyen said. If it is impossible to move forward quickly with all ⁠27 ​EU countries at the same time, the EU would push on with the project in a smaller group, she said.

"If ⁠there is not sufficient progress by then, we will consider enhanced ⁠cooperation, that ⁠is that at least 9 Member States if they want to move forward faster," she said.