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Capital Markets Union: Why the harmonization of insolvency laws is failing

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Published: May 2nd, 2024,
Last updated: May 28th, 2025

Macron and Scholz want to advance the Capital Markets Union together, but so far there have been no concrete progress.
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At first glance, the matter seems clear: at their summit in mid-April, the heads of state and government agreed to „continue work without delay“ in the Council and the Commission on all necessary measures to create truly integrated European capital markets. The first item on the list is the „harmonization of relevant aspects of national insolvency frameworks for companies“.

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Finanzmarkt European policy EU internal market