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European Financial Services Round Table
 





Tuesday, June 25, 2013
EFR Response to the EU Green Paper: Long-Term Financing of the European Economy
The EFR welcomes the European Union's Green Paper and commends the EU Commission on initiating a debate about how to foster the supply of Long-Term Financing (LTF) and how to improve and diversify the system of financial intermediation for long-term investment in Europe. The European Commission rightly ascertains that the pressing challenge for Europe is to put the EU back on the path of sustainable and inclusive growth, creating jobs and establishing a competitive advantage. Within this context, the EU Commission is correct to prioritise large-scale, long-term investment as a key driver for reviving growth and employment across the EU. The EFR has formally responded to the EU Green Paper on 25 June 2013 with specific emphasis on the following seven topics: infrastructure investment, financing small and medium sized enterprises (SMEs), venture capital, the importance of securitisation, the role of the insurance sector, the banking sector and taxation. In conclusion, the EFR recognises the fundamental concerns raised in the Green Paper and believes that the EU and the Member States face a number of important decisions that could truly transform the European Economy for the better. The EFR is a strong supporter of the EU and the Single Market and is ready to assist the EU Commission in this important project and to help with identifying and supporting appropriate initiatives and measures that can increase long-term investment, revive the European economy, support competitiveness and boost much-needed employment. The many important issues raised in the Green Paper could, given the right conditions, contribute substantially to growth and employment prospects across Europe. The full EFR Response to the EU Green Paper and the accompanying cover letter are available below.