"European supervision of capital markets must be strengthened; we will mandate the Commission to explore this issue," said Charles Michel. "The idea of a capital union has been around for 10 years, but today we have made substantial progress." "We will not give up on capital markets," said European Commission President Jean-Claude Juncker at the end of the EU summit in Brussels on Thursday.
"It is the right thing to do," said French President Nicolas Sarkozy at the summit, "but we must not give in to the temptation to over-regulate the markets." "We need to make sure that we have a strong, fair, and open market," said German Chancellor Angela Merkel, "and that we don't let the market take the lead." "It's time to take a step back and think about the future of the European Union," said Dutch Prime Minister Mark Rutte. "There is a lot of work to be done."