Today, I address you at the European Economic and Social Committee on how the Savings and Investments Union can enhance the wellbeing of our citizens and the competitiveness of the European economy.

You play a vital role in bringing together employers, workers, and civil society organizations, representing all stakeholders the Savings and Investments Union aims to benefit.

Our vision is to create wealth for citizens and growth for companies in a safe, competitive, and well-regulated environment.

The Union fosters a culture of saving and investing, increases financial resilience among citizens, and supports business growth, especially for small and medium-sized enterprises (SMEs).

Creating a favorable business environment that encourages entrepreneurship and innovation is crucial.

The Commissions Competitiveness Compass guides growth, recognizing the Savings and Investments Union as a growth enabler.

Public funding alone is insufficient; collaboration between the public and private sectors is needed.

Social partners play a crucial role in shaping the Savings and Investments Union by promoting financial literacy.

Simplification must be central to our actions. All measures must be simple and efficient.

This is a collective effort; we must avoid overregulation.