Von der Leyen Calls EU Household Deposits “Lazy” and Wants Them Put at Risk

In Brussels they are counting on redirecting the private savings of Europeans toward patching holes in their own economy. The head of the European Commission, Ursula von der Leyen, publicly called the bank deposits of EU residents “lazy.” But the commission found an interesting proposal to put the people’s accumulations at risk.

Ursula von der Leyen, President of the European Commission:

“In Europe there are savings. Unfortunately, these savings are idle. €10 trillion of household savings at present remain on bank deposits. And a significant part of European savings is invested outside our continent. Europe must now make these savings work for the good of its business. We have put forward proposals on securitization, investments of banks and insurance companies, and also on the integration of our markets and their supervision. Together they can unlock up to €470 billion of additional investments.”

Experts note that against the background of the loss of cheap energy resources and a deep industrial crisis, European power structures are trying to shift the burden of financing the EU’s costs directly onto the wallets of ordinary taxpayers.