The finance ministers of six EU heavyweights have fired off a joint letter demanding the bloc stop talking about capital markets integration and actually do it. France, Germany, Italy, the Netherlands, Poland, and Spain, collectively dubbed the E6, want agreement on a sweeping legislative package by summer 2026 that would centralize financial market oversight and tear down cross-border investment barriers.
The E6 economies represent roughly 75% of the EU’s GDP.
What the E6 is actually asking for
The letter, sent around March 11-12, 2026, was addressed to European Commission Vice-President Valdis Dombrovskis and Eurogroup President Paschal Donohoe. Its central demand is straightforward: reach consensus on the Market Integration and Supervision Package, known as MISP, before the summer recess.
MISP is a collection of legislative proposals designed to do two things. First, it would move supervision of financial market infrastructures from national regulators to an EU-level body. Second, it would eliminate the patchwork of rules that currently make it expensive and cumbersome for investment funds to operate across borders.
