Ursula just said that she wants your savings parked in your EU bank account... move fast!
😉
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1) Brussels ”“
The European Union needs money it does not have when so much of it is sleeping in banks and could be used to finance the economy
2) Christine Lagarde, offers numbers that help understand the scale of the challenge. “From 2031,
- we will need 800 billion euros a year to meet the European targets of a 90 per cent reduction in greenhouse gas emissions by 2040.”
Total:
eight trillion by 2040.
And then, Lagarde reminds us, “
We need €75 billion a year to meet the NATO spending target of 2 per cent of GDP for defence.”
3)
There is a European wealth that does not benefit Europe. Stopping the money outflow does not appear possible, and finding the money needed is far from easy.
At the state budget level, “there is not a lot of money available,” admits Bruno Le Maire, France's finance minister.
But, on the other hand, there is idle available money, and plenty of it. “Europeans' savings amount to €35 trillion, and a third, more than 10 trillion, are sleeping in bank accounts.
That's money sleeping and not working, when Europeans' money is supposed to contribute to growth, research, employment.”
Very sensitive public statements, those of Le Maire, which risk creating ill-feeling. But the key is all here, in knowing how to “mobilize household savings, which are important for sustaining our challenges,” acknowledges Vincent van Peteghem, finance minister of Belgium, the country with the rotating presidency of the EU Council. This will be the key. But it will have to be done right. Hence, the French initiative for a capital markets union.
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https://www.eunews.it/en/2024/02/23...ng-in-the-banks-eurozone-wants-to-wake-it-up/
