Good morning, ladies and gentlemen.

I am pleased to participate in this event, even if remotely.

Gatherings like these, where we consider trends and keys to unlock investments and economic progress, are encouraging and form a significant part of my agenda as Commissioner for Financial Services.

I believe the discussions youll have today about the Czech economy and business environment will sound similar to those we regularly have at the European level. Our economies face similar challenges.

The Czech economy is strong - with a well-educated workforce, low unemployment, a robust industrial base, especially in automotive and advanced technologies, an export-oriented focus, and healthy inflows of foreign investments. These are also defining strengths of the European economy as a whole.

On a larger scale, Czechia is strategically located as a gateway between East and West, much like Europe itself, bridging different markets, cultures, and economic influences.

I see many parallels between your agenda today and the broader European challenges and opportunities. I can anticipate some exciting potentials you will highlight - and some risks you will explore.

I am here today to talk to you about Europes economy, and how more equity financing can boost Europes innovation and competitiveness.

I know this is a topic that will come up throughout todays discussions, so allow me to set the scene and share how the EU is working to improve Europes economic dynamism and reinforce our competitive position on the world stage.

A truly harmonized single market for capital is a key enabler for achieving our ambitions of a more competitive, secure, green, digital, and fairer Europe. It also strengthens our capacity to be more independent in critical sectors, like energy or defense.

But we still dont have a fully integrated single market - mainly because financial market participants and companies face legal, operational and supervisory barriers when operating cross-border within the EU. And more often than not, it comes down to lack of political will to take the next step and bring down the barriers.

Historically, Europe has made its biggest leaps in integration during moments of urgency and crisis - this is how the Union itself was born. Today is one of those defining moments, and it is our opportunity to make progress.

We currently find ourselves in a less predictable economic and geopolitical environment, with trade tensions and war on Europes borders.

If we want to ensure prosperity and better jobs for our citizens, we need to act decisively to unleash the full strength of the European economy.

The high level of private savings is one of the strongest assets of the EU economy. The best way to channel this treasure into the real economy to boost investments and competitiveness is to complete the Single Market.

But our Single market is not truly Single if our capital and financial markets remain fragmented.

Indeed, fragmentation of our capital markets is one of our biggest challenges. Even our largest stock exchanges are much smaller and less liquid than in other jurisdictions. This isnt just about public markets - its also true for private ones.

That makes it harder for companies to raise money and for investors to move their capital efficiently. Businesses face high costs and complicated rules if they want to list in multiple countries. And investors run into barriers like different tax systems and insolvency laws. The result? Our capital markets just arent delivering what they should.

On the 19th of March, I announced my flagship proposal for a European Savings and Investments Union which will be an enabler for growth and competitiveness in the EU.

The strategy envisions a more integrated European market for capital, where European citizens can do more with their savings and can grow their wealth. This means giving citizens a clear path to invest in financial assets, including equity, and working on the pensions offering throughout the EU.

The Savings and Investments Union also means better opportunities for European companies to get financing here in Europe, wherever they are located, and irrespective of their size or stage.

We will make it easier for insurers, banks, and pension funds to invest in equity, including venture capital - which is a crucial source of funding for young and innovative companies. We will leverage public funding - through the European Investment Bank and national promotional banks - to attract more private investors into co-financing companies and projects that support EU priorities.

We are focused on making our markets work more efficiently. Too often our European companies cant fully enjoy the benefits of the Single Market, and this is a significant competitive disadvantage.

There are many barriers holding back progress here, and they come in various forms. We will be bringing bold proposals to break those barriers.

Success here will bring scale to the market - and when it comes to business, scale really matters. It will also bring down costs for both businesses and citizens throughout the EU.

So, we are aiming for fundamental changes in how Europes capital markets work - changes that will direct more investment to businesses, help people build their wealth, and create the right conditions for Europe to thrive economically, both at home and on the global stage.

Weve recently launched a targeted consultation to identify the main barriers holding back our progress, and by the end of the year, well propose solutions to improve the cross-border functioning of market infrastructure, better harmonize supervision, and encourage more retail and institutional investment so we can channel more capital into Europes economy and improve long-term returns.

In closing, I want to emphasize that all markets - large, small, East, West, and in between, including here in the center of Europe - have a lot to gain from the Savings and Investments Union. Actually, this is particularly true for the smaller markets, as these have the most to gain.

I dont want you to see it as a prescriptive plan, but more as an ecosystem where deeper connections between markets bring benefits for everyone. Smaller markets will serve as key entry points, and the system as a whole will be built to help all participants thrive - investors, market players, and Member States, wherever they are in Europe.

Thank you and I wish you a productive day of discussions.