· François Villeroy de Galhau Wiki · Banque de France WikiVenturing into open waters to unlock Europe's innovative potential
Read full speech on bis.org ↗ContextSpeech at Euronext Paris on building the Savings and Investments Union; the Banque de France keeps finance stable and wants European savings to fund innovation.
Why it mattersThe French governor proposes pooling financial markets and tax regimes to fund European innovation.
Problems raised
- European venture capital is underdeveloped.
- Pension funds are small compared with the US.
- Europe falls into the middle-technology trap.
Solutions proposed
- Integrate financial markets and tax regimes.
- Invest in high-risk, high-impact projects.
- Develop financial education under the SIU.