European Commission head Ursula von der Leyen has proposed directing trillions of euros in European savings into the economy.
Modern.az reports that she put forward this initiative during her speech at the annual La REF business conference in Paris on Thursday.
"Today, 10 trillion euros in savings are held in bank accounts. A large part of Europe's savings are invested outside our continent. Now Europe must direct these savings to the development of its own companies. This is the goal of the 'savings and investment union'," said von der Leyen.
According to her, Brussels has already submitted proposals on securitization, investments by banks and insurance companies, as well as market integration and control.
The head of the European Commission stated that these measures could allow up to 470 billion euros in additional investment to be directed into the economy.
According to her, an agreement should be reached by the end of the year. The ideal option is to implement this with the participation of all 27 EU countries. However, if necessary, it is possible to implement the initiative with countries that are ready for it.
