The Fit for 55 program, a part of the European Union’s (EU) proposed actions under the European green deal, is designed to reduce Europe’s greenhouse gas emissions by 55% by 2030. The strategy itself has various effects on financial market liquidity. This chapter is intended to review how fit for 55 directly affects EU financial market liquidity by looking at key components and measurements of liquidity within these markets and analyzing the Fit for 55 program in depth. The impact of the program on liquidity can be attributed to three of its key strategies, expanding green bond markets, diversifying markets with carbon intensive assets, and promoting green investment funds and loans. The effects of the Fit for 55 program also establish unique challenges and opportunities for financial market liquidity that will determine the success of the EU’s entire Green Deal. These include transition and greenwashing risk, and burgeoning growth in new green markets.