Overview
- Finance ministers of France, Germany, Italy, the Netherlands, Poland and Spain reached a political compromise in Berlin on May 28 to press ahead with the Market Integration and Supervision Package.
- The deal backs expanding the European Securities and Markets Authority’s (ESMA) remit so it can supervise key market infrastructures that are now overseen by national regulators.
- The compromise says ESMA should take on new powers “as soon as possible” while leaving the exact transition timetable open and permitting national oversight to remain for smaller players.
- The package brings major payment reforms into the push by prioritizing the digital euro and private pan‑European payment solutions to reduce reliance on U.S. card networks and dollar‑centric rails.
- The E6 must now win wider support to meet EU Council rules requiring 15 countries representing 65% of the population and will present the proposal to other finance ministers at the June 12 Ecofin meeting; the outcome will determine whether the plan becomes bloc-wide policy.