The European Commission is appealing to countries to create savings and investment accounts, for buying and selling assets without obstacles and more flexible, In the EU countries where they do not exist, like Portugal.
The European Commission defends the creation in the European Union (EU) of savings accounts that allow small investments, which do not yet exist in Portugal, speaking in a “good alternative” to traditional deadlines for having more return.
In an interview with Portuguese journalists in Brussels, the Portuguese European commissioner, Maria Luís Albuquerque, defended the new Brussels strategy to monetize citizens savingscommenting that this type of accounts “is clearly a good alternative” to time deposits where “people think they will not need this money in the near future.”
“We look at the statistics, even to the evolution of the Portuguese market, […] The returns are higher “added the head of the financial services and the Union of savings and investments.
“What we really want is that European citizens – naturally Portuguese citizens included – have all these opportunities at their disposal,” he said.
Defending a new “investment culture” at EU, Maria Luís Albuquerque exhorted countries like Portugal to create savings and investment accounts to “give people the possibility of saving for a longer deadlinewith an increase in your knowledge and your ability to understand what it is to take a risk to have a higher return. “
“We also recommend to the Member States to follow these tax incentive accounts,” he said.
More than 11 billion euros in deposits in the EU lose value
Maria Luís Albuquerque said there was a value of more than 11 billion euros in the EU in deposits, which are losing value, and which is urgent to yield.
The European Commission is thus appealing to countries to create savings and investment accounts, for buying and selling assets without obstacles and more flexible, In the EU countries where they do not exist, like Portugal.
At issue are accounts provided by authorized financial service providers, including ‘online’, which allow small investors to apply amounts to capital markets instruments.
To foster its use, these Accounts often imply tax benefits.
These are financial instruments designed to keep and make a low risk of citizens’ money, applying such funds to shares, obligations or funds.
The idea is that they are simple and affordable accounts (already existing in countries such as Sweden or Germany and should be adopted in others) that encourage citizens to invest part of their savings.
In Portugal, these accounts do not yet exist.
The most traditional options
Other existing options are timely deposits and traditional savings accounts (secure but low income), statement certificates (issued by the state, with guaranteed capital and variable interest), PPR Savings Plans – PPR (with tax benefits and focus on renovation) and funds or actions for increased risk tolerance.
Most Portuguese maintain a conservative profile and bets on guaranteed capital financial products.
A European Commission estimates generating at least 1.2 billion euros in 10 years By encouraging EU citizens to apply their savings to productive investments, betting on financial literacy and more affordable models.
When less than one fifth of European citizens have a high level of financial literacy, the strategy now proposed by the community executive also provides that countries run communication and awareness campaigns and finance investigation in this area.
