​The EU efforts to build a Capital Markets Union must promote small and medium enterprises' access to new sources of finance, allowing them to grow and expand to new markets. This call was the core political message of the opinion adopted on 8 July by the European Committee of the Regions (CoR).
 
"The building of a Capital Markets Union should above all support the development of small and medium-sized enterprises and may hel
p safeguarding the interests of local communities, which will be obliged to seek new sources of finance for development, on various markets" said Mr Truskolaski, mayor of Białystok and representative of the Union of Polish Metropolises at the CoR, adding that: "EU regions fully share the European Parliament's emphasis on the need to take into account the differences in the financial sectors across EU member states and to ensure that small businesses will benefit from the plan".
 
Local and regional authorities and MEPs are on the same wavelength also in warning against the risk of imbalances among regulatory powers: "The regulatory environment should be stimulating and not limit the accessibility of new instruments and forms of capital distribution. At the same time, the current objectives of the Capital Markets Union seem still too general and need to be fleshed out in detail, on the basis of the consultation which ended in May" argued Mr Truskolaski, stressing that: "It is very important that the Committee of the Regions and local and regional authorities throughout Europe play an active role in the building of the Capital Markets Union and the cooperation with the European Parliament and Commission is vital to ensure this involvement in the finalisation of the action plan which will be presented by the European Commission in September".