Posted on 02/14/2014 10:36:17 AM PST by BradtotheBone
(Reuters) - 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.
The Commission will ask the bloc's insurance watchdog in the second half of this year for advice on a possible draft law "to mobilize more personal pension savings for long-term financing", the document said.
Banks have complained they are hindered from lending to the economy by post-crisis rules forcing them to hold much larger safety cushions of capital and liquidity.
The document said the "appropriateness" of the EU capital and liquidity rules for long-term financing will be reviewed over the next two years, a process likely to be scrutinized in the United States and elsewhere to head off any risk of EU banks gaining an unfair advantage.
The EU executive will also complete a study by the end of this year on the feasibility of introducing an EU savings account, open to individuals whose funds could be pooled and invested in small companies.
(Excerpt) Read more at reuters.com ...
And when that is gone, then what?.......................
There have already been numerous committee meetings in Congress to take over 401k’s and IRA’s.
Basically the plan is to convert them to bonds.
And when that is gone, then what?.......................
Historically when a nation’s leaders, (Kings, princes, Tribunes, etc.) have drained, (stole), all of the funds from their citizens they go to war with their neighbors and use that to steal everything left over from the war as ‘reparations’, tribute, etc.
And I can see that same pattern occurring once again worldwide, South America is a good example in the news.
Hey Europe, cash out while you can. It will be cheaper to take the penalty and tax hit then what they are planning for you,
CW-II.
When, not if.
I think more likely we’ll just cut the banks out all together by instituting “public option” banking. Then the gubbermint can have its cake and eat it too.
America has money, get the UN to take it!
So...
When you have pauperized your own subjects
And degraded the net worth of the Kingdom to noise
When you have sold your birthright
for bread and circuses
What then?
That’s one for you, nineteen for me
Stop Spending.
I’ll pay you on Tuesday, for a hamburger today”!
It will do no good. All their neighbors are broke as well.................
I’m sure it has crossed their minds.
We can give them our Chinese IOU’s, otherwise known as Treasury Bonds................
The next Great European War is on the way. Only remains to see what the sides are.
It will do no good. All their neighbors are broke as well.................
Jackals still fight over the carcass with the vultures. It’s the same with ‘feral’ nation-states.
Bunch of (rude word for fornication) communists!
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