ALDEN BIESEN, Belgium, Feb 12 (Reuters) - 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
EU Plans to Enhance Single Market and Capital Markets Union in March
EU's Initiative for Market Integration
ALDEN BIESEN, Belgium, Feb 12 (Reuters) - 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.
Goals of the Capital Markets Union
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.
Phased Approach to Implementation
"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.
Potential for Enhanced Cooperation
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.
(Reporting by Phil Blenknsop and Julia Payne, writing by Jan Strupczewski)
