30 Mar 2015, 17:22
The European Commission’s plans for building a Capital Markets Union will be subject to detailed scrutiny by the Oireachtas Joint Committee on Finance, Public Expenditure and Reform tomorrow afternoon.
30 March 2014
The Commission recently launched a launched a three month consultation building Capital Markets Union designed to strengthen capital markets and unlock investment for European SMEs in particular.
View Green Paper.
The meeting, divided into four sessions, will engage with the following key stakeholders:
- Session A: 2 pm: Representatives of Chambers Ireland and Irish Venture Capital Association (IVCA)
- Session B: 3 pm: Representatives of the Irish Association of Investment Managers (IAIM), Irish Funds Industry Association (IFIA) and Banking and Payments Federation Ireland;
- Session C: 4 pm: Peter Brown, Lecturer, Institute of Investing and Financial Trading and Dr Constantin Gurdgiev, Lecturer in Economics/Finance
- Session D: 5 pm: Officials from the Department of Finance and Representatives of the Central Bank of Ireland
Committee Chairman, Liam Twomey TD says: “The underlying motivation behind this proposal is to create a true single market for capital across all 28 EU Member States. SMEs in the United States, for instance, receive five times more funding from capital markets than their EU counterparts. So the Juncker Commission is keen to shift lending in the EU from a bank-driven system to one driven largely by private lending in capital markets.
“It is important that Ireland is in a position to inform the consultation now rather than respond later in the legislative process. With this in mind, the Finance Committee will tomorrow meet with a broad range of stakeholders to assess the potential impact on Irish business, should a Capital Markets Union be realised. We look forward to engaging with business, banking, academic, funds industry and regulatory perspectives on the proposals contained in this significant Green Paper.”
This meeting commences at 2pm tomorrow afternoon Tuesday 31 March in Committee Room 4, LH 2000.
Committee proceedings can be followed live here.
Committee proceedings can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.
Media enquiries to:
Paul Hand,
Communications Unit,
Houses of the Oireachtas,
Leinster House,
Dublin 2
P: +3531 618 4484
M: +353 87 694 9926
paul.hand@oireachtas.ie
Committee Membership
Deputies
Tom Barry, Fine Gael
Richard Boyd-Barrett, People Before Profit
Ciaran Cannon, Fine Gael
Michael Creed, Fine Gael
Pearse Doherty, Sinn Fein
Regina Doherty, Fine Gael
Stephen Donnelly, Independent
Timmy Dooley, Fianna Fáil
Alan Farrell, Fine Gael
Sean Fleming, Fianna Fáil
Paul Murphy, Socialist Party
Mary Lou McDonald, Sinn Fein
Ciarán Lynch, Labour Party
Michael McGrath, Fianna Fáil
Kieran O’Donnell, Fine Gael
Ciara Conway, Labour
Pat Rabbitte, Labour
Arthur Spring, Labour Party
Peadar Tóibín, Sinn Féin
Liam Twomey, Fine Gael
Brian Walsh, Fine Gael
Senators
Sean D Barrett
Paul Coghlan
Michael D’Arcy
Aideen Hayden
Marc MacSharry
Tom Sheahan