José Carlos Sánchez-Vizcaíno, Depositary Monitoring director of Cecabank, has participated in the XXXII Legal Debate organised by FundsPeople, where it already anticipated that the Savings and Investments Union is an initiative key for transform the European financial system. Just as they consider the European institutions, this proposal opens the door to a more comprehensive market, competitive and attractive for the retail savers. However, so that it becomes for that matter, will be necessary political willpower and a convincing fiscal frame.
During the XXXV edition of the Legal Debate, the vision of experts went unanimous: without tax incentives, financial and coordination education regulatory, the opportunity that represents this union can be insufficient. The collaboration between the public sector and private will be essential so that this initiative has success.
In the table, moderate for Arantxa Rubio (FundsPeople), participated José Carlos Sánchez-Vizcaíno (Cecabank), Virginia Arizmendi-Ortega (INVERCO), Paula De Biase (Baker McKenzie), Pilar Lluesma (Ashurst) and Francesc Cholvi (Garrigues). All coincided in which the effective implementation of the Savings and Investments Union will require a coordinated effort between the member states, an attractive fiscal frame and a clear strategy to promote the share of retail savers.
The Savings and Investments Union has the potential of being a pillar transformer for the saving and the investment in Europe. But as a good point out the experts, its success will depend on that are given the suitable conditions so that the citizens trust, participate and they benefit from a more efficient and accessible system.
