EU executive sees personal savings used to plug long-term financing gap
The 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, an EU document says.
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 investment.
"The economic and financial crisis has impaired the ability of the financial sector to channel funds to the real economy, in particular long-term investment," said the document, seen by Reuters....
penned wrote: SA, thanks for posting this. the derivative market, where home loans were traded by bankers on the world market led to hyper speculation and the housing bubble. today they say there are many more vacant homes than homeless. the markets have operated without any accountabililty, the dog eat dog world that they operate. many think Cyprus was only the beginning.
Are you suggesting people should have free homes to live in,we are already well on our way to destroying the American work ethic and people don't know what poverty is until there are no more paychecks to rob from....then they will know,no society can function with more takers than makers unless there is forced labor and slavery for some to support others.