Good morning, ladies and gentlemen,

Today, I am here to share my “ideas to strengthen the Union.” As a European Commissioner, I have much to discuss regarding my policy priorities and Europes role globally. This is both a professional and personal matter for me.

Portugal recently celebrated 40 years of EU membership. As a Portuguese citizen who remembers life before joining, I have seen how EU membership transforms not just economies and governance but the daily lives of people.

Like many of you, I value European citizenship and aspire for a stronger, more integrated EU.

We are witnessing rapid global changes. The troubling news from Ukraine and the Middle East reminds us how fragile peace and stability are and reinforces our core European values: human dignity, democracy, fundamental rights, and the rule of law.

Strengthening the Union is not merely a choice; it is essential. With crises come opportunities, and I see a chance for Europe to advance decisively together.

Today, I want to discuss a strategy I launched earlier this year: the Savings and Investments Union (SIU). This initiative aims to broaden Europe’s investor base by empowering retail investors with tools to invest wisely in our potential and long-term future.

The SIU seeks to create a true financing ecosystem in Europe. In a world where diplomacy alone cannot ensure global relevance, we must leverage our economy and strategic capabilities.

Despite structural underperformance, Europe’s economic fundamentals are sound. Inflation is easing, public debt is manageable, and we produce a competitive number of STEM graduates and patents.

European households save about 1.3 trillion euros annually, and energy prices may sustainably drop as we transition to cleaner energy sources. By 2030, over 40% of our energy consumption is expected to come from renewables.

Globally, Europe is a leading trading partner for more than 70 countries, expanding its reach through new trade agreements.

The SIU addresses Europe’s urgent investment needs. Without significant additional investment, we cannot drive innovation, sustain growth, or build resilience against external shocks. We require a dynamic capital market at the core of our economy.

However, barriers—including self-imposed restrictions—hinder progress and the full benefits of the single market. My proposal for the SIU aims to overcome these barriers and create a financing ecosystem that benefits all, especially European citizens.

To unlock more financing for EU businesses and strategic priorities, we must broaden our investor base, facilitating easier access for everyday individuals to invest. This involves fair access and attractive long-term investment options, including retirement savings.

Our SIU strategy encompasses four pillars: citizens and savings, investment and financing, integration and scale, and effective supervision.

Under citizens and savings, we aim to enhance access to capital markets for Europeans, who are among the world’s top savers yet often lack productive investment opportunities.

To improve financial literacy—currently low, especially among youth—we will publish a financial literacy strategy later this year.

We will present a blueprint for savings and investments accounts, providing a simple, accessible framework with favorable tax treatment.

To engage more citizens in supplementary pensions, we will recommend auto-enrollment, pension tracking systems, and a clear pension dashboard.

On investment and financing, we will facilitate access to diversified sources of finance for companies and enhance institutional investors roles in venture capital and infrastructure investments.

We aim to revise the European Venture Capital Funds label to facilitate equity financing for innovative companies and increase bank securitization to channel more investment into the real economy.

Integration and scale are persistent challenges for EU capital markets. Our stock exchanges are smaller than in other regions, limiting company growth and investor engagement.

The SIU is vital for unlocking capital, reducing costs, and creating interconnected markets to support innovation and business growth.

The last pillar focuses on supervision. A coordinated approach to supervision across the EU is essential for a resilient financial system.

The SIU responds to Europe’s competitiveness challenge, targeting strategic sectors like defense, space, AI, clean tech, and biotech for greater investment.

In conclusion, the SIU embodies our mission to strengthen Europe economically and structurally. We must act urgently to realize this imperative strategy.

We will publish our flagship proposals by year-end and engage all stakeholders in this crucial endeavor.

Let me emphasize: the SIU is a key enabler for addressing today’s geopolitical and economic challenges, promising positive change for every Member State and citizen across the continent.

Thank you for your time, and I look forward to your questions.