BETTER FINANCE, the voice of European savers and individual investors, expresses hopes but also concerns regarding the European Savings Label initiative to be launched today by a group of EU Member States under the „Finance Europe” banner.
Despite its stated and excellent objective to enhance European competitiveness and channel private savings into productive investment, the initiative demonstrates a worrying disregard for the very citizens it purports to serve.
The programme of the launch event, disclosed at the last minute, strikingly excludes any participation from organisations representing European savers and individual investors. In contrast, the agenda features extensive representation from financial industry leaders and trade associations, many of whom were reportedly consulted during the preparatory phase. BETTER FINANCE, however, was not consulted or invited to contribute to the project’s design or public discussion.
“The absence of EU saver and investor representation at this critical moment is both telling and troubling,” said Guillaume Prache, Founder and Senior Adviser of BETTER FINANCE. “Europe’s households are by far the main source of long-term capital, yet their interests are nowhere to be seen in this initiative.”
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