Baptiste Morin 11:13 a.m., March 11, 2024
This Monday, the finance ministers of the euro zone will meet in Brussels.
The opportunity for Bruno Le Maire to defend his European savings product.
The Minister of the Economy proposed the idea two weeks ago and this Livret A, with a European flavor, would therefore make it possible to put Europeans' money to work.
There are 10 billion euros sitting in Europeans' bank accounts.
They all have the same habit: they leave a lot of money in their bank account.
A third of their savings is not invested.
An untenable idea for the Minister of the Economy Bruno Le Maire.
“Europeans’ money sleeps instead of working,” he regrets.
“It must work on growth and innovation to finance artificial intelligence and the climate transition.”
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“A small reserve”
Europe today suffers from the fragmentation of its markets.
Every year, around 250 billion euros leave the continent for more attractive markets.
But if Bruno Le Maire's idea is supported by the European Central Bank and Christine Lagarde, it does not convince everyone, starting with Germany, explains economist Philippe Crevel.
“There is a distrust in saying that the Germans have not helped indebted states or uncompetitive companies. There is always a small reservation.”
Note that a precedent already exists: a European retirement savings plan launched in 2019. But the latter encountered fluctuating taxation depending on the State.