The Commission has launched a call for evidence to collect input on its overall approach to the Savings and Investments Union (SIU). The purpose is to gather views, facts and evidence from consumers and stakeholders on progress made on the Capital Markets Union, as well as identifying significant challenges that the Savings and Investments Union should address.
Building on the achievements of the Capital Markets Union and Banking Union, the SIU is a key initiative to strengthen EU prosperity and competitiveness. It aims at developing a strategy for supporting household wealth creation by increasing the returns on savings of EU citizens (in a risk appropriate manner), while widening the financing opportunities for businesses. It encompasses capital markets and the banking sector, as well as retail investment, and is considered a crucial enabler of competitiveness in the EU Competitiveness Compass. It aims to unlock funds to boost the EU's sustainable competitiveness, support innovation, drive the clean transition and promote digital and tech diffusion. It will focus on increasing returns on savings for EU citizens and financing opportunities for businesses. To achieve this, the Commission plans to present a comprehensive strategy on the SIU, aiming to ensure that all Member States and stakeholders benefit from strong, integrated financial markets, together with well-developed domestic markets.
Maria Luís Albuquerque, Commissioner for Financial Services and the Savings and Investments Union said: “The scale of investment required to ensure EU competitiveness while addressing the clean and digital transitions is massive. To succeed, we need a well-functioning, efficient, deepened integrated capital market and banking sector that brings together savers, institutional investors and companies. My vision is simple: I want European savers to earn a fair return on their savings. And I want European businesses and innovators to have access to the financing they need to drive our economy forward. I want everyone to be able to find the right counterpart, and the right opportunity under the Savings and Investments Union. I warmly invite all stakeholders to help steer it in the right direction.“
The Commission invites all stakeholders, including civil society, consumers, social partners, businesses and Member State authorities, to submit their views on the Have your Say Portal. The call for evidence will be open for four weeks. The contributions will be taken into account when drafting the Communication on the SIU, expected in the first quarter of 2025.
Respond to the call for evidence
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Details
- Publication date
- 3 February 2025
- Author
- Directorate-General for Financial Stability, Financial Services and Capital Markets Union