Malcolm Byrne (Wicklow-Wexford, Fianna Fail)
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260. To ask the Minister for Finance Ireland's position on the development of an EU Savings and Investment (Capital Markets) Union; and if he will make a statement on the matter. [65342/25]

Simon Harris (Wicklow, Fine Gael)
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In March 2025, the European Commission launched the SIU Strategy, which includes measures to advance the Capital Markets Union (CMU) project. The Savings and Investment Union (SIU) is the new term for the combination of the Capital Markets Union (CMU) and Banking Union. It is a key priority for this Commission’s legislative term.

From the outset, Ireland has been a strong supporter of the SIU, and we, the Government, but also our financial services sector, will continue to actively be involved in progressing its associated measures.

In our view, we can deliver for all EU citizens most effectively through a multi-centre of excellence SIU model that is open to global capital and expertise and that can exploit the benefits of existing marketplaces and infrastructures. As with the wider single market, competition will be what drives innovation and efficiency gains.

Ireland’s view is that we must take a pragmatic approach and that, in order to best advance the SIU and to truly deepen EU capital markets, we need to focus on areas where broad agreement can be reached.

As you all know, we are entering into a busy period where many important SIU legislative proposals will come quickly. To maintain momentum, we must work diligently and in close coordination with other Member States, the European Parliament and other stakeholders particularly to advance legislative files where progress is readily achievable.

This busy time will also coincide with our Presidency of the Council next year and Ireland will have an eye on trying to advance the SIU as best as it can, from both a top-down and bottom-up perspective, and in line with the ambitious timeline that has been set out in the Commission’s SIU Strategy.