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Leeked document shows plan to use personal savings to fund EU projects.

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posted on Feb, 13 2014 @ 04:53 PM
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All that money just sitting in bank accounts just doing nothing is just looking to temping to leave alone,
So to help the people of Europe the EU thinking about investing it for them.

(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.


Reuters
zerohedge
If i'm reading the right then the plan is that saving are going to be invested/reallocated/stolen
(cross out which one you prefer) in to everything to make up for the short fall of bank lending.

What could possibly go wrong?

edit on 13/2/2014 by skuly because: little edit




posted on Feb, 13 2014 @ 05:01 PM
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reply to post by skuly
 


Yep, they want to mobilize more personal pension savings right out of your savings plan to further fund their insanity. Kind of what Obama wants to do with the MyRA if memory serves.

Bad plan all around, people best be looking to move their resources and retirement funds to a secure location, like in their mattress.



posted on Feb, 13 2014 @ 05:26 PM
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Sounds good, but its a con. They'll some how manage to lose it all and then have to borrow from the banksters to "save us" from disaster.

People should quickly transfer their money directly to the bank of VoidHawk, I promiss I'll keep it safe.



posted on Feb, 13 2014 @ 06:53 PM
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skuly

"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.



edit on 13/2/2014 by skuly because: little edit


I like this bit - impaired the ability to channel funds to the real economy - that's never been the function of the financial sector. Their function is to channel all capital into fewer and fewer hands.

(See the appendix to Fritof Capra's excellent "Web of Life").



posted on Feb, 13 2014 @ 06:56 PM
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Strange, a very similar idea was floated in Australia yesterday

www.news.com.au...


TREASURER Joe Hockey wants the savings of Australian mums and dads used to build the big projects governments can no longer finance because they are broke.
He today outlined an economic plan based on government abandoning many investment areas and handing them over to private enterprise along with a guarantee of a return on investments.
Mr Hockey urged workers to get their wealthy superannuation funds to pour cash into areas which traditionally have been the monopoly of state and federal governments.
The Treasurer was responding to the six per cent unemployment figure for January — the highest level in a decade — which he said could not be lowered unless the economy was more productive.
“Australia needs to get back to (economic) growth rate of three per cent and beyond to address the rising unemployment rat,” said Mr Hockey. The current growth rate is about 2.8 per cent.
And he said the Government had a strategy to do this.
Last night Mr Hockey revealed he hoped to raise $130 billion from privatisation of state and federal assets. The Commonwealth will offer Medibank Private for sale but today Mr Hockey would not speculate on other sell-offs.



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