Bileog eolais faoin tuairim 

Green Paper on the long-term financing of the European economy

Opinion Number: CDR 3303/2013
Rapporteur: SILBERG Uno
Commission: ECOS-V
Status: Adopted
Date: 09/10/2013

- welcomes the Commission's timely Green Paper on the long-term financing of the European economy, and welcomes the move to launch a wide-ranging debate in the form of a public consultation on how the supply of long-term financing can be improved and the system of financing long-term investments in Europe strengthened and diversified with a view to the EU's future development;

- shares the Commission's view that the European financial sector has been less successful since the financial crisis at channelling savings into long-term investments; the financial crisis and the present weak macroeconomic environment in particular have created a climate of uncertainty and risk aversion especially felt by cash-strapped Member States;

- is also concerned that specific local and regional-level circumstances are not given enough attention in provision of long-term financing and in measures typically taken to promote long-term investment;

- has reservations about EU moves to restrict competition and the leeway of governments in some areas of investment that are especially important to local and regional authorities. The coordination process and authorisation procedures are too time-consuming and complicated, which makes Europe less competitive internationally and increases the appeal of other parts of the world to investors.
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