000			01820cam a2200181 4500500
005			20251012014416.0
041			_afre
042			_adc
100	1	0	_aGossé, Jean-Baptiste _eauthor
700	1	0	_a Ramos-Tallada, Julio _eauthor
700	1	0	_a Weber, Pierre-François _eauthor
245	0	0	_aA Savings and Investment Union to Finance Europe’s Future Challenges
260			_c2025.
500			_a59
520			_aThe EU’s current challenges – digital, ecological transition and defence – require substantial investment, estimated at €750-800 billions. These needs remain insufficiently covered, as Europe’s savings, which are abundant, are not being effectively used. Rebalancing is necessary to favor investments in stocks rather than debt securities and to direct investments towards future-oriented sectors. National disparities in the access businesses have to finance also hold back economic growth within the European Union, further widening the gap with other regions, such as the United States and China. In order to address these challenges, it is crucial to improve the regulatory framework by centralizing supervision (through the ESMA) and by harmonizing standards. The availability of financing needs to be enhanced by fostering long-term investments, stimulating securitisation, supporting venture capital and targeted government intervention to compensate for market shortcomings. Finally, expanding and diversifying European funds requires increased cross-border activity, which should make them more attractive to foreign investors. JEL classification: E21, E61, F36, G11.
786	0		_nRevue d'économie financière | 158 | 2 | 2025-07-09 | p. 209-221 | 0987-3368
856	4	1	_uhttps://shs.cairn.info/journal-revue-deconomie-financiere-2025-2-page-209?lang=en&redirect-ssocas=7080
999			_c1531038 _d1531038