Source: Foundation for Economic Education
by Cláudia Ascensão Nunes
“On October 9, EU finance ministers reached a political agreement to move supervision of Europe’s largest cross-border trading venues and market infrastructure from national regulators to the European Securities and Markets Authority (ESMA) in Paris. EU leaders want the package agreed by the end of the year. ‘Europe has the savings. Now it’s time to put them to work,’ said Ireland’s finance minister, Simon Harris, whose country holds the rotating Council presidency until the end of 2026. He meant the roughly €10 trillion that, according to the Council, European households keep in low-yield bank deposits. Brussels insists no one will be forced to move a single euro. Meanwhile, it is building an entire system to move that euro where it wants it to go. The plan raises a question about the legitimacy of a state that treats family savings as a resource it can exploit.” (11/03/26)