LONDON May 18 The European Commission will
announce new initiatives to re-configure its capital markets
union project on June 7 to reflect Britain's decision to leave
the bloc, a senior commission official said on Thursday.
Confirming a Reuters story on Wednesday, Ugo Bassi, a
director in the European Union executive's financial services
unit, said the CMU needed reassessing due to Brexit.
"We are preparing now the action plan for CMU 2.0 which will
be published on June 7 in the form of a mid-term review and
which will announce a number of additional initiatives we would
like to take in coming months," Bassi told a conference
organised by the Association for Financial Markets in Europe.
"We can no longer count on liquidity pools in London."
(Reporting by Huw Jones, editing by David Evans)