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Capital Markets Union and small and medium-sized enterprises (SMEs) : a preliminary assessment.

Schammo, P. (2015) 'Capital Markets Union and small and medium-sized enterprises (SMEs) : a preliminary assessment.', in The new financial architecture in the Eurozone. Florence: European University Institute, pp. 137-176.


The Capital Markets Union is the European Commission’s latest policy initiative in the capital markets field. It is a project in the making. Much of it remains to be spelled out and fleshed out. However, the first elements of a future CMU are slowly beginning to emerge. The aim of this paper is to discuss these elements and to offer a first assessment. In particular, this paper aims to discuss the relationship between the CMU and one of its key objectives which has proved elusive in the past: that is, of facilitating access to finance for SMEs. In this process, the paper offers a number of suggestions on how to make progress on this crucial issue. Among other things, it advocates a form of supply side driven matchmaking as a means to improve information issues affecting SMEs in the SME funding market.

Item Type:Book chapter
Additional Information:Conference date: Thursday, April 23, 2015; Organised by The European University Institute (EUI) and the Brevan Howard Centre at Imperial College.
Full text:Publisher-imposed embargo
(AM) Accepted Manuscript
File format - PDF
Full text:(VoR) Version of Record
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Date accepted:29 May 2015
Date deposited:12 June 2015
Date of first online publication:2015
Date first made open access:11 August 2021

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