European Union could use personal savings to boost the economy via 'long-term investments'

02/13/2014 - 00:00

By Mark O’Byrne -

The “personal pensions savings” of the European Union's 500 million citizens could be used to fund “long-term investments” to “boost the economy” and help plug the gap left by banks since the financial crisis, Reuters has reported (see News) after seeing an EU document on the matter.

The EU is looking for ways to wean the 28 country bloc from its heavy reliance on bank financing and find other means of funding small companies, infrastructure projects and other unspecified investment.