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Do the current national and EU policies address investment needs in Europe (NGEU, EU policies, national economic policies…)?

Do the current national and EU policies address investment needs in Europe (NGEU, EU policies, national economic policies…)?

Day 1 Afternoon

Wednesday 11 September

Room :

ROOM 1

Speakers

Chair
Declan Costello
Deputy Director-General, Coordination of Economic Policies of Member States - DG for Economic and Financial Affairs, European Commission
Public Authorities
Kalin Anev Janse
Chief Financial Officer and Management Board Member - European Stability Mechanism (ESM)
László Balogh
Deputy Secretary of State - Ministry for National Economy, Hungary
Maria Teresa Fábregas
Director - Recovery & Resilience Task Force, European Commission
Deniz Igan
Head of Macroeconomic Analysis - Bank for International Settlements (BIS)
Industry Representatives
Bernard Attali
Senior Advisor - Groupe Caisse des Dépôts (CDC)
Mikolaj  Dowgielewicz 
Deputy Secretary General - European Investment Bank (EIB)
Bjorn Storim
Chief Executive Officer - BNY Mellon’s European Bank
Other stakeholder & expert
Jean Jacques Bonnaud
Expert - Eurofi

Objectives

The green and digital transitions require significant investment. The EIB’s latest investment report shows that investment to mitigate climate change is increasing but remains well below what is needed to achieve the EU’s goal of zero net emissions by 2050 (around EUR 500 billion per year between 2020 and 2030).

Investment is the lifeblood of competitiveness and productivity. In the aftermath of the global financial crisis, net investment in the US and Europe fell sharply, but the decline was particularly pronounced in Europe. Moreover, the investment gap between Europe and the US exists in almost all sectors but is particularly large in technology and energy. The top 10 US companies invest three times as much as the top 10 European companies… Insufficient investment threatens Europe’s competitiveness, its way of life and its place in the world, and without competitiveness, investment will not flow.

This plenary session will assess the main reasons why productive investment is much lower than in the United States or Asia. The panel will then examine whether European solutions (Green Deal, NGEU, DORA…) can make a difference in increasing productive investment in EU countries. Speakers will also be invited to give their views on the main priorities for tackling the obstacles to the development of productive investment in Europe.

Points of discussion

  • How to explain the lack of productive investments in Europe during the past years?
  • Are European solutions (Green Deal, NGEU, Digital Services Act, Digital Operational Resilience Act, …) a game-changer for increasing productive investment in EU countries?