Europe's economy, and above all Germany's, is highly dependent on bank financing. In this respect, bank regulation in response to the financial market crisis that erupted in 2007 and all further attempts to strengthen capital market financing are of particular importance for the real economy. In addition, the EU has been taking targeted steps since 2015 to create a functioning single capital market (Capital Markets Union). Many of the effects and interactions associated with the new regulations are still unfolding and have not yet been recognised or even researched.
Academics and practitioners discuss the related issues in great detail on a subject-specific basis, but primarily in different silos of expertise that are independent of each other. Forums in which academics from different disciplines can engage in an exchange with practitioners from business, regulatory agencies and politics are also the exception.
With the Capital Markets Union Foundation Project, we are creating a common framework that brings together academia, financial market players, real economy stakeholders, policymakers and regulators in order to plot the course for the further development of business financing, capital markets and capital market law in Germany and Europe.