{"id":342492,"date":"2026-03-12T14:06:09","date_gmt":"2026-03-12T14:06:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/342492\/"},"modified":"2026-03-12T14:06:09","modified_gmt":"2026-03-12T14:06:09","slug":"eus-6-biggest-economies-back-single-finance-watchdog-politico","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/342492\/","title":{"rendered":"EU\u2019s 6 biggest economies back single finance watchdog \u2013 POLITICO"},"content":{"rendered":"<p>Among the most contentious initiatives is introducing EU supervision of \u201cthe most systemic, relevant, cross-border financial market infrastructures\u201d amid firm resistance from a group of small countries, led by Ireland and Luxembourg, which rely on their outsized finance sectors and are reluctant to cede control to the EU level.<\/p>\n<p>EU leaders are set to discuss how best to speed up Brussels&#8217; decade-long plans to create a U.S-style financial market next week after years of lackluster results amid vying national interests. Ireland has already <a href=\"https:\/\/www.politico.eu\/article\/ireland-concerns-big-six-club-eu-largest-economies\/\" rel=\"nofollow noopener\" target=\"_blank\">sounded the alarm<\/a> of the E6 group, as smaller countries fret that their views will be sidelined if countries club together to integrate their financial markets.<\/p>\n<p>In the letter, the E6 ministers said creating a \u201csavings and investments union &#8230; has become an urgent strategic necessity\u201d and that they commit to \u201ctaking action at European as well as at national level.\u201d<\/p>\n<p>Other targets in the letter include reviving the bloc&#8217;s market for resold debt, or securitization, minting virtual euro banknotes, and introducing an EU-wide <a href=\"https:\/\/pro.politico.eu\/news\/214710\" target=\"_blank\" rel=\"nofollow noopener\">one-stop shop for founding companies<\/a>, dubbed the 28th regime. There are also calls for greater transparency in stock markets and a push for a legislative package this year to streamline the EU&#8217;s financial rules.<\/p>\n<p>Seeking a majority<\/p>\n<p>The idea of a single market watchdog, which would play a role similar to the European Central Bank&#8217;s supervisory arm for banking, has long been blocked at EU level due to the opposition of small countries and the lack of Germany\u2019s backing.<\/p>\n<p>The support of the major economies is a breakthrough in the likelihood of agreeing to the plan, which the European Commission officially proposed in December but has been informally discussed since the financial crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"Among the most contentious initiatives is introducing EU supervision of \u201cthe most systemic, relevant, cross-border financial market infrastructures\u201d&hellip;\n","protected":false},"author":2,"featured_media":342493,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[2605,72,8839,8847,17286,10036,1322,113,176,1814,292,958,61,975,60,102,106606,123,2850,156739,8880,2846,5155,24696],"class_list":["post-342492","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-banking","tag-business","tag-capital-markets","tag-companies","tag-cooperation","tag-crisis","tag-debt","tag-economy","tag-finance","tag-france","tag-germany","tag-growth","tag-ie","tag-investment","tag-ireland","tag-italy","tag-luxembourg","tag-markets","tag-poland","tag-securitization","tag-single-market","tag-spain","tag-the-netherlands","tag-transparency"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/342492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=342492"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/342492\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/342493"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=342492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=342492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=342492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}