Skip to content
Own-initiative report First reading

Facilitating the financing of investments and reforms to boost European competitiveness and creating a Capital Markets Union (Draghi Report)

Parliament sets out its own position on a topic. The resolution is not binding but signals what Parliament wants.

Where it stands: Parliament adopted the text on 10 September 2025. This is its final position on the matter.

  1. ✓ Referred to committee 23 January 2025
  2. ✓ Committee work Report adopted 24 June 2025
  3. ✓ Tabled for plenary 1 July 2025
  4. ✓ Plenary vote Adopted 10 September 2025
  5. ✓ Parliament’s position Final
How a file moves through Parliament

A file is referred to one lead committee (others may give an opinion). Its rapporteur writes a draft report, committee members table amendments, and the committee votes to adopt the report. The report is then tabled for all MEPs; political groups can table further amendments, which are voted on before the final vote in plenary. The adopted resolution is Parliament’s final position; it is not itself law.

Who is working on it

Lead committee
ECON — Economic and Monetary Affairs
Rapporteur
Aurore LALUCQ S&D
Shadow rapporteurs
Isabel BENJUMEA BENJUMEA PPEEnikő GYŐRI PfEGiovanni CROSETTO ECRĽudovít ÓDOR RenewRasmus ANDRESEN Verts/ALEJussi SARAMO The Left
For opinion
BUDG — Budgets · rapporteur Karlo RESSLER PPE

The rapporteur drafts and negotiates the text for the lead committee; each other political group names a shadow rapporteur to follow the file.

The text, version by version

Adopted by Parliament · latest Adopted text TA10-0185/2025 10 September 2025 ✦ Parliament's resolution on financing investments and reforms for European competitiveness and creating a Capital Markets Union responds to the Draghi report, calling for mobilising private and public investment, completing the Banking Union, and boosting financial literacy.⇄ what changed Tabled for plenary Report A10-0124/2025 1 July 2025 ✦ Parliament's resolution on facilitating investment financing and creating a Capital Markets Union responds to the Draghi Report, calling for mobilising private and public capital to close the EU's investment gap and boost competitiveness.⇄ what changed Committee draft Draft report (ECON) 12 March 2025 ✦ This draft report addresses financing investments and reforms to boost EU competitiveness and create a Capital Markets Union. It calls for mobilising private and public investment, integrating capital markets, and supporting defence and green transitions.

Latest Tabled for plenary → Adopted by Parliament: Substantive changes: securitisation paragraph now references the Commission's review and removes rejection of weakening macroprudential rules. Defence paragraph 81 now includes the Defence Equity Facility text, and a new paragraph 82 is added with that content. Other changes are formal: decimal commas replaced with decimal points throughout. see the changes →

Committee draft → Tabled for plenary: The report expands significantly, adding detailed analysis on competitiveness, investment gaps, and financial literacy, and introduces new calls on capital markets integration, public investment, and defence financing. It updates figures and adds new data on savings, market fragmentation, and trade wars, reflecting a broader scope. The report now includes specific proposals on supervisory convergence, clearing activities, and financial education. It also addresses public investment sustainability, safe assets, and defence financing instruments. The other changes are formal and wording updates, including rephrasing and reordering of paragraphs. see the changes →

Committee opinions: Draft opinion (BUDG),Opinion (BUDG)

Newest version first. Open a version to read it in full. “What changed” shows the differences paragraph by paragraph; ✦ lines are AI-written from the texts themselves.

Timeline

  1. Plenary stage
  2. 10 September 2025 Plenary vote
    Sitting of 10 September 2025 📄 Report A10-0124/2025📄 Adopted text TA10-0185/2025
    Adopted Adopted by a clear majority
    For 407 Against 161 Abstained 97

    Final vote — text as a whole at 14:23 · 61% of votes cast in favour · every MEP’s position →

    How the vote unfolded · 4 ballots

    adopted rejected lapsed square = amendment circle = part of the text decisive vote Solid = roll call (click for every MEP’s vote); faded = no individual positions

    Show all 4 ballots in voting order
    1. Separate vote on paragraph 38
    — no individual positions recorded
    Adopted
    2. Separate vote on paragraph 38
    — no individual positions recorded
    Adopted
    3. Separate vote on paragraph 70
    electronic vote (totals only) — no individual positions recorded
    Adopted
    4. Final vote — text as a whole 14:23 A10-0124/2025 - Aurore Lalucq - Proposition de résolution (ensemble du texte)
    Adopted
  3. 8 September 2025 Debated in plenary

    MEPs debated the text in the chamber ahead of the vote.

    Sitting of 8 September 2025 📄 Report A10-0124/2025
  4. 5 September 2025 1 amendment tabled for the plenary vote

    Groups propose changes to the tabled text; each is voted on before the final vote.

    📄 Amendment 1
  5. 1 July 2025 Report tabled for plenary

    This is the text all MEPs vote on. Political groups can still table amendments to it.

    📄 Report A10-0124/2025
  6. Committee stage
  7. 24 June 2025 Committee vote: report adopted

    ECON (Economic and Monetary Affairs) voted on the amendments and adopted the report that goes to plenary.

  8. 4 June 2025 BUDG (Budgets) adopted its opinion

    The opinion is attached to the report for the lead committee to consider.

    📄 Opinion (BUDG)
  9. 5 May 2025 Amendments tabled in committee (2 batches)

    Members of ECON (Economic and Monetary Affairs) proposed changes to the draft.

    📄 Amendments in committee (ECON)📄 Amendments in committee (ECON)
  10. 9 April 2025 Draft opinion from BUDG (Budgets)

    An associated committee gives its view to the lead committee.

    📄 Draft opinion (BUDG)
  11. 12 March 2025 Draft report published

    The rapporteur’s first text in ECON (Economic and Monetary Affairs). Members can table amendments before the committee votes.

    📄 Draft report (ECON)
  12. 23 January 2025 Referred to the ECON (Economic and Monetary Affairs) committee

    The lead committee prepares the report; BUDG (Budgets) gives an opinion.