“Cumnotte”, “Magot”, “Treasure” … If the savings, abundant, of the French, regularly attracts lusts, it is also the case, more generally, for that of households in the European Union (EU). Their financial savings reached 35,000 billion euros, according to figures communicated on June 5 during the official launch of finance Europe, a new label for savings products. The latter aims to encourage savers to invest in European companies, in stocks.
The event brought together, in Bercy, representatives of the seven countries participating for this time in this intergovernmental initiative-Germany, Spain, Estonia, France, Luxembourg, the Netherlands, Portugal. Others could join them in the coming months.
“Europeans are among the best savers in the world. However, today, [leurs] 35,000 billion euros in savings contribute to the financing of the European economy ”,, deplores, in a press release, the Minister of the Economy, Eric Lombardnoting that “20 % of savings in the euro area is invested abroad” And that the rest is mainly placed on bank accounts or other guaranteed products.
The idea is not “Reinvent the wheel”,, “We are not creating a new product in an already complex ecosystem”he insisted during the launching ceremony. It is therefore not a common product that is launched, but a label. It may be affixed to existing financial products in countries, or on products specifically set up.
What types of savings products will be labeled?
In order for the products to be labeled, three main criteria have been announced:
– Their assets will have to be invested in the European Economic Area at least 70 %;
– They must have primarily invested in equity, “To contribute to equity funding for European companies” (Bercy specified that if the actions were there ” target “obligations, “Private or public”would not be excluded);
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Source: Lemonde