by Frank Bergman, Slay News:
European Union bureaucrats are setting their sights on seizing control of a staggering $10 trillion in private household savings as Brussels scrambles to finance its sprawling climate, defense, and globalist agenda.
The unelected European Commission is pushing ahead with its so-called “Savings and Investments Union,” a scheme designed to redirect vast sums currently sitting in Europeans’ bank accounts toward investments favored by the bloc.
EU officials openly acknowledge that approximately “€10 trillion in household savings” is currently held in bank deposits rather than European capital markets.
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European Commission President Ursula von der Leyen has now declared that Brussels wants to take control of these funds to “put these savings to work.”
In a speech before business elites in France, von der Leyen called on fellow eurocrats to “unlock” the general public’s savings and “reinvest” the funds in the globalist agenda.
While the current proposal does not yet authorize the EU to simply confiscate citizens’ bank balances, the push has ignited fears that the move will inevitably lead to Brussels seizing the general public’s savings.
The calls come as EU governments struggle under mounting debt and enormous spending commitments.
Brussels Targets Europeans’ Private Wealth
The European Commission says Europe requires hundreds of billions of euros in additional investment every year to pursue its strategic objectives.
According to the Commission, the bloc faces massive funding demands from climate policies, technological development, geopolitical upheaval, and increased defense spending.
The Draghi report estimates that Europe needs an additional €750 billion to €800 billion every year by 2030.
Rather than relying exclusively on government spending or traditional bank financing, Brussels wants to channel more private capital into those priorities.
