EU government leaders are positive about the European Commission's plan to mobilise EU citizens' savings

EU government leaders are positive about the European Commission's plan to mobilise EU citizens' savings. 

This is stated in a joint declaration that they adopted at the EU summit on Thursday. According to the European Commission, EU citizens have 10,000 billion euros in the bank. If they invest this, a huge amount will be released on the capital market, which companies can use to invest in increasing EU competitiveness. Activating these savings is part of the plan of European Commissioner Maria Luís Albuquerque (Financial Services) to create a Savings and Investment Union. 

This was presented on Wednesday. It also states that the Commission wants to tap into more capital in other ways.

In addition, companies must have easier access to this capital so that they can invest in, among other things, defence, clean energy or technological innovation, the Commission proposes.

The government leaders emphasise the importance of unlocking investments "in support of the EU's competitiveness", according to the declaration.

 “We underline the sense of urgency and shared responsibility for rapid and decisive progress” on the Commission's plan to create a Savings and Investment Union.