The union of savings (and of the capital markets) e the digital euro are two Priority objectives of the EU. European leaders reiterated it at the end of theEuro summitwhich has debated, among others, of the theme competitiveness, within which these two key themes for the EU include.
Urgent union of capital markets
In the final considerations, the twenty -seven judge “Of fundamental importance” make “urgently” The union of capital markets and complete the banking union. “An authentic union of savings and investments – is underlined in the final considerations – will contribute to convey hundreds of billions every year euro of additional investments to the European economy, contributing to impulse to competitiveness, strategic autonomy and EU’s economic security “.
The European Council examined the Proposal of the European Commissionpresented on Wednesday by President Ursula von del Leyen, hoping that a quickly reach a agreement on all proposals“For the union of the capital markets,“ including the one in the matter of insolvency“.
As part of the actions aimed at “Increase” of the capital markets and accessibility of the same “to all citizens and businesses”, European institutions are invited to encourage “one greater participation of retail investors “, expanding the” investment and savings opportunities at European level “including the study of pension and savings products on a European scale. In this regard, Brussels is also invited to propose “improvements to the existing pan -European pension product”.
Leaders also invite the Commission to present proposals to “improve the ecosystem of private equity and venture capital ”, propose a “optional regime of corporate law “ by 2026 and a uniform framework on securizations, “By adjusting the prudential framework, while maintaining financial stability”.
Bruxelles is then urged to “supervise the conditions of parity worldwide in the sectors banking and insurance“And a “Reduce fragmentation” of the capital markets, both from the point of view of vigilance and “quickly removing the obstacles to the consolidation of market infrastructures” and “eliminating duplications”.
Brussels’ proposal on savings
The European Commission adopted on Wednesday the Strategy for the union of savings and investments (Siu)to improve the system with which the EU conveys the savings towards productive investments, promoting wealth, economic growth and competitiveness.
The president Ursula von der leyenin announcing the proposal, he underlined that, with the union of savings, “a double victory is obtained. Families will have greater and safer opportunities to invest in the capital markets and increase their wealth. At the same time, companies will have easier access to capital to innovate, grow and create good jobs in Europe”.
Remembering that the EU boasts “a Large saving basin of families equal to about 10,000 billion euros In bank deposits “, Brussels states that” bank deposits are safe and easy to access, but usually earn less money than investments in the capital markets “. For this reason it is necessary to” support the Wellness of savers offering them the choice and the Opportunities to achieve better returns By putting their savings in the service of the capital markets “and, at the same time,” supporting the real economy allowing companies throughout Europe to grow and thrive “.
The Commission is elaborating measures aimed at savers, for Increase the performance of savings also in view of the pension, support investments of the most productive companies, in particular in the critical sectors, encourage the Reduction of inefficiencies and regulatory obstaclesguarantee a more efficient vigilance and strengthen the integration and competitiveness of the Euroèpeo banking sector, also through the deepening of‘Banking Union.
The priority digital euro for payments
Leaders also highlighted that “in a more fragmented and digital world, accelerate progress towards a digital euro it is fundamental To support a competitive and resilient European payment system, contribute to the economic safety of Europe and strengthen the international role of the euro “.
The theme was also raised by President of the ECB Christine Lagardein the hearing for the European Parliament, where he explained that the architecture of the digital euro “will be subject to the European legislator and must have a common legislative architecture. “There is a series of challenges” to face, – said Lagarde – including the US line “of strong encouragement to Stablecoin”, and this project serves to “reduce our vulnerabilities”. However, Lagarde itself recalled that the digital euro also presupposes the removal of and the union of the capital markets.
