Parliament's position on the EU savings account

29.6.2017

Question for written answer E-004339-17
to the Commission
Rule 130
Jonás Fernández (S&D)

The European Parliament resolution of 22 November 2016 on the Green Paper on Retail Financial Services[1] (paragraph 47) calls on ‘the Commission to put forward a proposal on the creation of an “EU savings account” in order to unlock long-term financing and support ecological transition in Europe’.

Furthermore, a Commission Communication COM(2014)0168 of 27 March 2014 states that ‘the Commission services will undertake by the end of 2014 a study of possible market failures and other shortcomings regarding cross-border flows of savings, including an overview of national savings account models and an assessment of the opportunity of introducing an EU savings account’.

However, the Commission has not released the said study because, according to the answer to WQ E-000320-17 ‘the action on private savings accounts proposed in the communication of 27 March 2014 received moderate welcome and some sceptical responses during the consultation’.

Does this meant that the Commission intends to disregard Parliament’s position in favour of a private sector consultation?

• [1] Texts adopted, P8_TA(2016)0434.