Key facts
- An estimated €37 trillion remains uninvested across the EU.
- Market fragmentation is a key barrier to investment in the EU.
- Lower financial literacy is a key barrier to investment in the EU.
- Verena Ross is the Chair of the European Securities and Markets Authority (ESMA).
- A more integrated Capital Markets Union is needed.
- The Capital Markets Union is also referred to as the Savings and Investments Union.
- The goal is to unlock capital for growth.
- The goal is to attract international investors.
Verena Ross, Chair of the European Securities and Markets Authority (ESMA), has highlighted a significant savings gap within the European Union, with an estimated €37 trillion remaining largely uninvested. Ross pointed to market fragmentation and lower levels of financial literacy among EU citizens as the principal barriers preventing this capital from being deployed. She stressed that addressing these issues is crucial for unlocking capital that could fuel economic growth across the bloc. Ross advocated for the development of a more integrated Capital Markets Union, a concept now also being framed as the Savings and Investments Union. The goal of such a union is to create a more cohesive and efficient market for investments, thereby attracting greater capital for growth and making the EU a more appealing destination for international investors.