“We conducted an important assessment of our situation regarding the Capital Markets Union, which remains our top priority. […] At the national level, we can now see new initiatives being undertaken […] as in Portugal, which informed us about an initiative aimed at offering companies a different understanding of how initial public offerings can be executed,” stated Paschal Donohoe.
Speaking at a press conference following the eurozone finance ministers’ meeting in Luxembourg, he pointed out that this project — like others in Ireland and Croatia — is in total alignment with the Eurogroup’s strategy, which was quite clear about the need for a multifaceted approach, consisting of both bottom-up efforts and EU top-down initiatives.”
The Portuguese Finance Minister, Joaquim Miranda Sarmento, was absent from the meeting due to the presentation of the State Budget proposal for 2026.
In his place, the Secretary of State for Public Administration, Marisa Garrido, attended the meeting, bringing the example of the Portuguese Securities Market Commission (CMVM) initiative to allow companies to simulate their market operations.
European sources explained that the presentation on this CMVM project, aimed at providing companies the opportunity to test various financing options through the capital markets, was made at the Eurogroup president’s request as a good example of progress being made in the Capital Markets Union (CMU).
The CMU is an initiative to create a single capital market across the EU, facilitating investment and financing among member states, but as it involves harmonizing financial rules, it has faced political resistance from some countries.
In the press conference, Paschal Donohoe also highlighted the “better than expected [economic] growth in the first half of the year” in the eurozone.
ANE // CSJ
Lusa/End
