FX.co ★ Ursula von der Leyen calls to unlock Europeans’ savings to back domestic industry

European Commission President Ursula von der Leyen has urged attendees at the La REF business conference in Paris to mobilize household savings to stimulate the European economy. She estimates that roughly €10 trillion in European household deposits now sits “passively” in bank accounts, while a large share of the region’s investment capital flows abroad, mostly to US markets. Brussels intends to unlock those domestic reserves and redirect them into the real economy and strategic sectors across the bloc.

The proposal drew sharp criticism from conservative quarters. Florian Philippot, leader of France’s right‑wing party Les Patriotes, wrote on X that accumulated financial assets belong to depositors, not EU bureaucrats, and called von der Leyen’s remarks an attempt by European authorities to “target” private savings to plug funding gaps.

The statement comes against a backdrop of mounting structural strains in European industry. Leading euro‑area economies, notably Germany, continue to face pressure from a shortage of skilled labor and high business costs, increasing firms’ need for long‑term investment to remain competitive on the global stage.