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The union of financial savings and investments is “an concept that tries to create alternatives for the financial savings of individuals to be invested with a better efficiency, particularly after we take into consideration lengthy -term financial savings,” he mentioned.
“We will situation a advice to the Member States to create a financial savings and funding account, by which a sequence of funding choices which can be easy, at low value (…) and with tax incentives will likely be made accessible so that individuals really feel extra drawn to any such funding.”
Investments within the capital market contain the chance
The European Commissioner acknowledges that the choice to fastened -term deposits is investments in monetary merchandise with larger, medium and lengthy -term threat.
“We will suggest the Member States to create these accounts, by which the merchandise supplied are, after all, appropriate for the profile of the retail investor. But sure, investments within the capital market contain dangers. There is not any assure of capital.”
But if cash is a low -interest deposit, financial institution prospects are shedding cash attributable to inflation.
“They are, in a means that they don’t realise, most likely. Because, if we put € 1,000 in a deposit, on the finish of the interval we are going to obtain that € 1,000 Plus curiosity. The reality is That with that € 1,000, we will purchase fever Things. When it’s mentioned that cash is misplaced in deposits, Losing in Terms of Euros, however what we will Purchase with them.
No to protectionism within the banking sector
As for the protectionist positions of some EU governments relating to the mergers and acquisitions of overseas banks, as within the case of Portugal, the European Commissioner has a warning.
“In truth, there are very targeted protectionist attitudes a few nationwide perspective. I mentioned we should change our mind-set and we should perceive that being house to be European,” he mentioned.
“The Commission, as you understand, by no means feedback on particular instances. But, as regards banking points, we now have a banking union that already entails all of the nations within the euro space and the place the principles that should be adopted for the mergers and acquisitions of banking are outlined.
Mergers within the European banking sector?
European firms and banks should be bigger and get a staircase to compete with the United States and different areas, says Maria Luís Albuquerque.
“For us competing with the United States, with China, with giant worldwide blocks, we’d like the muscle that represents the European Union as an entire and never every of the Member States itself.”
“Because none of us is giant sufficient, even the biggest or strongest sufficient to face that stage of competitors. Therefore, on this sense, we’d like firms and banks that may compete with the nice international monetary establishments to supply more and more higher companies, at extra aggressive costs,” defined Maria Luís Albuquerque.
