Consumers EU seal of approval to keep savings in Europe
Europeans save a lot. With a new seal of approval for financial products such as funds, France and other EU countries want to keep savers' investments in Europe.
22.06.2025, 05:43
SDA
"We have an enormous amount of savings in Europe and we like investments. Now it's about ensuring that European investments also serve Europeans," French Finance Minister Éric Lombard told the German press agency Deutsche Presse-Agentur.
This is why the so-called Finance Europe has been created, which can be used to award ETFs, for example. Lombard said that he himself would invest in an award-winning product. Germany is also in favor of the award, as are Estonia, Spain, Portugal, Luxembourg and the Netherlands.
Lots of savings in Europe
According to a recent report, there are more than 30 trillion euros in private savings in the EU - mainly in cash and deposits. Every year, around 300 billion euros of European citizens' savings are diverted abroad, primarily to the USA.
In order to change this and generate more capital for investments in defense and the green transition, for example, efforts are being made to encourage more savers to invest in Europe. Europe's main priorities - the green and digital transitions and critical infrastructure - are estimated to require an additional 800 billion euros by 2030.
70 percent of investments must be made in Europe
Financial products with the seal of approval should give investors the certainty that their money is being invested in Europe. Banks, insurers and other providers of financial products should be required to invest 70 percent of a labeled product in the European Economic Area. In addition, a minimum investment period of five years must be observed. The label is expected to be awarded from next year.
Lombard: Citizens must protect their country and the EU
In view of the geopolitical situation, it is the right time for such an award, said Lombard. "In a world that is much more aggressive and tougher than before, it is important that citizens do as much as they can in their daily lives to support their country and the European Union," said the Frenchman. "In addition, I think that people must also take into account issues of sovereignty and national interests in their behavior."
