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Weddings are peculiar events. Some people fixate on what the bride will wear. Your reporter, on the other hand, is obsessed with the wedding cake.
Because, as in the real world, what matters is not only its overall size but also how big a piece you get.
And right now, the EU’s slice of the global wealth cake is shrinking. And to solve it, one proposed solution — the Savings and Investment Union (SIU) — is to finally merge Europe’s fragmented financial landscape into a single, unified market.
Or, in plain English: instead of baking 27 separate cupcakes, Europe wants one giant cake.
The EU will account for only around 13% of the global GDP in 2030, which is below the US and way below China.
Foreseeing this, Enrico Letta’s 2024 report argued Europe needs deeper integration, calling for a shift from 27 regulatory realities to just one.
This strategy aims to mobilise the estimated €10 trillion in European household savings currently sitting in low-interest bank deposits or flowing into Wall Street.
By removing national barriers, the plan channels this money into productive investments, allowing innovative companies to scale up across the bloc without relying solely on bank financing — or moving to Silicon Valley.
And this week, France, Germany, Italy, the Netherlands, Poland and Spain, the six largest economies in the EU, pushed to accelerate this agenda.
In a joint letter, they are urging Brussels to reach an agreement on integrating capital markets by this summer.
But why hasn’t this cake been baked yet? While the recipe might sound good, member states are still arguing over the details. Smaller countries fear the framework could hurt their national markets, and these technical disputes keep slowing the process.
And discussions will continue among EU leaders during the European Council summit next week, so if you are into money, investment, or just baking, stay tuned for more.
Watch the Euronews video in the player above for the full story.
