The House of Lords Select Committee on EU financial affairs has expressed doubt that economic and monetary union (EMU) can happen by the 2025 target date. The report notes the “useful addition” to the banking union of the European Deposit Insurance scheme and says capital markets union will benefit the UK. Fiscal integration and strengthening eurozone institutions, however, will take longer and the Committee considers current plans are “speculative”. (Source: Select committee doubts 2025 EMU)