DereEnrico Letta [ancien premier ministre italien] Then Mario Draghi [ancien président de la Banque centrale européenne] have written in their reports that around 300 billion euros in European savings fled each year, mainly to the American economy, everyone repeats that by mobilizing it better, we will easily finance the investments that Europe needs to build its strategic autonomy (renewable energies, automobile, critical raw materials, etc.).
But what does it mean “Better mobilize savings” ? To tell the truth, not much! It is not savings that you have to better mobilize, but banks, insurers and other financial players that manage it. By dint of diverting responsibility from the financial system, the famous “” Competitiveness compass »» of the European Commission makes us lose the north.
Household savings is the unsuccessful part of their disposable income. The National Institute of Statistics and Economic Studies (INSEE) assesses it for France to 301 billion euros for 2023or a “Savings rate” 16.9 % (in proportion to gross disposable income).
What do households do? Four uses: they leave money to the bank on their current accounts, savings book, etc. ; They subscribe to life insurance contracts and sometimes equity savings plans (PEA); They buy securities (shares, bonds) sometimes via asset or fortune managers; And when the accumulated money constitutes a sufficient contribution, they buy real estate (57 % of them own their main residence), most often by completing their contribution with a bank credit. Thus, the heritage of households is formed, over the accumulated savings. In France, deduction made of debts, it rises to 14,616 billion eurosincluding 10,141 billion non -financial assets (housing, land, valuables).
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Source: Lemonde