Financial products
Saving for Europe: Seal for Funds launched
The Europeans save a lot, and American companies often benefit from the created. A seal of approval for financial products that invest in Europe should change that.
With a new seal of approval for financial products such as funds, France and other EU countries want to keep investments from savers in Europe. “We have a lot of saving in Europe and we like investments. Now it is about ensuring that European investments also serve Europeans,” said French finance minister Éric Lombard of the German Press Agency.
Therefore, the so -called Finance Europe was created, which can be used to award ETFs. He himself would invest in a correspondingly excellent product, said Lombard. Germany also supports the award, and Estonia, Spain, Portugal, Luxembourg and the Netherlands are behind it.
Most recently, a report said that more than 30 trillion euros in private savings were available in the EU – mostly in cash and deposits. Around 300 billion euros in savings of European citizens are diverted abroad, especially to the United States.
In order to change this and to generate more capital for investments in defense and the green change, an attempt is made to bring more savers to mutor in Europe. According to estimates, an additional 800 billion euros will be required for the main priorities of Europe – the green and digital change as well as the critical infrastructure.
70 percent of the investments must be made in Europe
In the case of financial products with the seal of approval, investors should get security that their money will be invested in Europe. Banks, insurers and other providers of financial products should have to invest 70 percent in the European Economic Area with the label. In addition, a minimum investment duration of five years must be observed. The seal is expected to be able to be awarded from next year.
Lombard: Citizens must protect their country and the EU
With a view to the geopolitical situation, it is the right time for such an award, said Lombard. “In a world that is much more aggressive and harder than before, it is important that citizens in daily life ensure that they support their country and the European Union,” said the Frenchman. “I also think that people in their behavior also have to take questions of sovereignty and national interests into account.”
dpa
Source: Stern
