The EU Capital Markets Union mid-term review (MTR) was published on 8 June 2017. In the run up to publication, Guernsey and Jersey repeated to the EU institutions their concerns that CMU risks becoming too inward looking, despite the shortage of investment needs in Europe and the scarcity of risk finance.
When CMU was launched in September 2015, much emphasis was placed on opening up the EU to global capital flows but this has eroded over time. In a series of meetings in Brussels 6-7 June 2017, the Chief Minister of Guernsey, Deputy Gavin St Pier, and the Minister for External Relations of Jersey, Senator Sir Philip Bailhache, said they would not want to see downplayed the benefits of foreign investment for the European economy (including investment channeled through Guernsey and Jersey) during the next phase of CMU.
You can find here:
– The Channel Islands’ contribution to the EU Capital Markets Union Mid-Term Review Consultation