Savings union: EU launches targeted public consultation to accelerate progress

Brussels – The objective is to identify and remove obstacles to capital market integration within the EU. With this in mind, the European Commission has launched a targeted consultation open to all to obtain valuable suggestions for implementing the Savings Union Strategy presented in March. All stakeholders in the initiative (civil society, consumers, social partners, businesses, and member state authorities) will have until June 10 to respond to the EU executive’s call, downloading and filling out the questionnaire on the dedicated web page.

“The Savings Union aims to create a financial ecosystem that enables Europe to reach its full economic potential,” said Maria Luís Albuquerque, commissioner for Financial Services and the Savings Union. “Removing existing barriers is essential to reaping the benefits of an integrated European market with scale, depth, liquidity, and synergies,” she added.

The European Commission’s policy objective does not change: it aims to improve how the EU’s financial system mobilizes savings toward productive investments and supports the EU’s strategic priorities. All this, for Brussels, in the name of competitiveness and more benefits for citizens and businesses, even though the push for the savings union intends to support defense industry funding, making the project controversial and subject to criticism and censure within the political debate. 

The Commission forges ahead, unwavering. “This consultation is a key step in gathering information useful for implementing the savings union,” Albuquerque continued. The information gathered will help shape the measures the EU executive is working on, which, the commissioner assures, “will be presented in a comprehensive package in the fourth quarter of 2025.”