Steering EU finance ecosystem for sustainable growth
Current economic turbulence is an opportunity to rebuild the current finance ecosystem in a way that encourages sustainable growth. Driven by European priorities for 2019-2024 such as the European Green Deal, a Europe Fit for the Digital Age and anEconomy that Works for People, financing is an instrument to make small and medium enterprises the true protagonists of recovery. To reach these ambitious goals, it is necessary to facilitate access to credit facilities, reduce administrative burdens and level the playing field through fair taxation.
As part of the current policy framework, the European Commission’s Digital Finance Package encompasses Europe’s ambitions like boosting competitiveness and innovation. Ultimately, the disruptive potential of digitalization needs to be embraced by the whole ecosystem to support recovery and the sustainable transition of financial services. With the development of digital currencies, alternatives to cash, transparency and security should be guiding principles for the seamless integration of these new technologies. Promoting innovation and its uptake by the entire supply chain, including retail, is paramount to stay competitive globally and become global standard-setters.
For this reason, the working group Fiscal, Financial & Monetary Policy provides a network for entrepreneurs and institutional actors to advocate for a forward-looking policy initiatives that properly encourage sustainable growth through financing opportunities.