France and Germany want to create a “European savings product” to raise private capital for growth, French President Emmanuel Macron said today. “We decided together to ask for the creation of a European savings product,” the French head of state said during a joint press conference in Germany with Chancellor Olaf Scholz, lamenting that due to a lack of adequate means today, hundreds of billions of euros “leave European soil to invest” in the United States. The European Union suffers from the fragmentation of its capital markets, which are divided among the various member countries. The Union has been discussing proposals for years to benefit from similar results comparable to the US market. However, these discussions run into different interests within the “27.” French Finance Minister Bruno Le Maire had already floated the idea, in February, of a “European savings product” with EU states that wanted it. The Franco-German competitiveness map Less than two […]
Source: News Beast
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