Finance for jobs and growth in Europe

Published 18 Mar 2014

Europe’s recovery in the five years since the financial crisis has been weak. Unemployment, especially among the young is a major concern. Reforms have stabilised the financial system, now the EU faces the challenge of establishing an agenda for jobs and growth in the 2014 - 2019 mandate.

We all rely on a stable and functioning financial system; successful enterprises cannot grow without the support of the financial services industry. The challenge for the industry is to deliver the services which individuals, families, businesses and society need.

This report will show, through a series of case studies, that behind seemingly simple transactions, a complex financial infrastructure exists that helps people borrow money, receive their pensions and manage their investments. The value of different services provided to businesses, including supply chain finance, risk management and private placements that allow firms to secure investment is explained.

Poorly designed legislation can severely impede the financial services industry’s ability to help European businesses to recover and grow. Policymakers can foster a regulatory climate that harnesses the full potential of the finance sector in supporting economic growth.

European policymakers can help drive jobs and growth by:

  • Adopting a strategy for jobs and growth over the 2014 - 2019 mandate
  • Assessing the impact of policies on the jobs and growth agenda
  • Consulting on draft legislation and attaching greater priority to growth when preparing legislation, including during the pre-legislative impact assessment phase
  • Completing the Single Market in financial services
  • Ensuring that investors are not barred from accessing global opportunities
  • Promoting global co-ordination of regulation
  • Enabling business to access the finance it needs – both from conventional and a range of alternative sources

The publication of this report is part of an ongoing dialogue about how the financial services industry can work best for Europe’s people and businesses.



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