By Valentina Za and Jesús Aguado

MILAN/MADRID, Dec 2 (Reuters) – A decade after it began working on a capital markets union, the EU is still struggling to agree a framework that encourages savers to put their cash to work within the bloc rather than in the U.S., prompting some of its 27 members to go it alone.

After warning in a 2024 report that 300 billion euros ($349 billion) of European Union savings leave the region annually, former Italian Prime Minister Enrico Letta last month said that ploughing funds into U.S. firms that reinvest in Europe was “a kind of collective suicide” caused by continued fragmentation.

Despite more than 60 legislative proposals since 2015, national interests, technical complexity and shifting political priorities have hindered progress on market integratio

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