Ireland said it aims to secure an agreement by the end of 2026 on the EU’s capital markets package during its rotating Council presidency in the second half of the year, while maintaining that expanding centralized supervision by the European Securities and Markets Authority is not necessary.
The package, proposed by the European Commission in December 2025 as part of the Savings and Investments Union, would expand ESMA’s powers and shift some responsibilities from national regulators in response to fragmentation in oversight across the bloc. Irish and Luxembourg officials have objected to centralization, saying it could add complexity, bureaucracy and costs.
At the same time, Ireland said finalizing a Council position on the market integration and supervision package will be a priority in the coming months. The issue has gained momentum after Germany, France, Italy, Poland, Spain and the Netherlands agreed in May to support more centralized supervision, including a gradual transfer of oversight of significant market infrastructure to ESMA.
Those six countries account for about 70% of the EU population, giving their coalition weight under qualified majority voting rules. Ireland has presented the file as part of a broader effort to deepen the single market for financing and strengthen investment conditions under the Savings and Investments Union agenda.