Sergey Filippov, associate director of the Lisbon Council was quoted in an op-ed by Treasury Today, entitled “Europe Heads Back to the Future”. “What we beliεve and what we say in our paper, is that it is not really possible to regulate separately for a CMU and to facilitate digital innovations in the European market”, said Mr Filippov. The article also quotes from Financial Services in the Digital Age: Leveraging Technology and Regulation to Achieve a Stronger Capital Markets Union, a policy brief published by the European Digital Forum.