On Wednesday 11 June, the European Economic and Social Committee (EESC) discussed the strategy for the ‘Savings and Investment Union’ (SIU). EU institutions, industry, workers’ organisations and civil society players have pointed out what they consider to be the missing elements in the European Commission’s communication (see EUROPE 13603/5).
The chairman of the study group for the EESC opinion, Luca Jahier, highlighted the importance of developing the EU regulatory framework to better encourage investment in shares.
Opinion report. In an exploratory opinion on investments and reforms for competitiveness and the Capital Markets Union (CMU), adopted on 30 April, the EESC recommended the creation of a ‘European Fund for Competitiveness and Resilience’ as part of the EU’s next Multiannual Financial Framework (MFF), as well as a targeted review of fiscal rules to encourage strategic public investment.
The EESC had also insisted on the need to deepen the CMU and complete the Banking Union via the SIU, in particular by strengthening the European financial supervisory authorities.
The Committee stressed the importance of protecting small savers and public pension systems, while calling for clear rules to mobilise private savings for long-term, sustainable investments.
Finally, the EESC had advocated greater and more targeted use of EU funding instruments, in particular through the European Investment Bank (EIB) and the InvestEU programme.
It warned against regional inequalities in access to funds and called for more transparent and effective supervision.
The development of the European securitisation market and the promotion of products such as ‘ELTIF 2.0’ funds were also mentioned as key levers for unlocking the potential for investment in the real economy.
See the EESC opinion report of 30 April: https://aeur.eu/f/h9k (Original version in French by Bernard Denuit)