Brussels, 29/08/2014 (Agence Europe) - French secretary of state for European affairs Harlem Désir says that a European savings account would encourage the financing of the real economy.
In an interview with business newspaper Les Echos on Friday 29 August, Désir said he was suggesting the creation of a tool to guide private savings towards the European economy, a type of European savings account available throughout the banking network that would allow the European Investment Bank to boost investment in infrastructure - energy, transport and the digital agenda - to generate tomorrow's growth.
The European Commission is looking at the idea of introducing a European savings account in its Green Paper on the long-term financing of the economy, published in the spring (see EUROPE 11048). Later this year, it will publish research into the obstacles to the mobilisation of cross-border transfers of savings, including an overview of national savings account models and an evaluation of the utility of introducing a European savings account. Meanwhile, a European conference on the financing of growth will be held in Brussels on Thursday 6 November. (MB)