Press Conference, Non Legislative, European Commission, Employment and social rights, Economy, finance, tax and competition, Business
On 20 March, the European Commission will adopt a Green Paper on long-term financing of the European economy. The Commission’s aim is to start a broad debate on how to address the urgent challenges associated with financing long-term investment needs by governments and companies.
Europe’s most pressing priority is to put the EU back on the path of smart, sustainable and inclusive growth - creating jobs and building on its areas of competitive advantage. In responding to this task, Europe faces large-scale, long-term investment needs. Long-term investment represents spending that enhances the productive and industrial capacity of the economy.
To fund these long-term investments, governments and businesses of all sizes need access to long-term financing. The capacity of the economy to make such long-term financing available depends on the capability of governments, comapnies and households to generate and mobilise savings and attract foreign investments. It also depends on its ability to channel the funds effectively and efficiently to the right users and uses – this can be carried out by various intermediaries, including banks, insurers and pension funds. However, Europe is confronted by a range of constraints that affect its long-term financing capacity. The Green Paper will identify issues that could be tackled in areas such as prudential rules, corporate governance, and financial markets for example.
11.30 Press conference by Commissioner Barnier, preceded by a technical briefing at 11.00.