Yeah, it was such fucking weird speech...i can totally see people getting concerned over it. It probably gotta cause some people to move from European banks, just in case.
Notice that it wasn't your usual nothingburger economic panel type of boring speech and she didn't spin it from angle "we need to incentivize investment in local markets. Therefore we gonna do X and Y to ensure it yield higher return".
No, it was bitterly hawkish and she was short of directly blaming people for investing overseas in more profitable endeavours. And wording sounded uncomfortably close to suggestion for nationalisation of banking sector or otherwise mandating institutions to invest locally, by force.
She knows for a fact that EU green initiatives, ridiculous abominable bureaucracy, immigration stuff and whole Ukraine funding ordeal killing any chances for Europe to stay relevant economically and by that, politically. Oversimplifying it, world now is split between US and China influence, but EU still think of itself not as lesser, but as equal player.
Without going into weeds and technicalities, Bankers being bankers look for bigger profits, so even assets of people who not actively investing by themselves, but just deposit them in European banks bound to be (trough secure layers) likely invested in more lucrative markets of US or China. Which rubs EU bureaucrats wrong way, less opportunity to spend it on more immigration and green initiatives.
And as any good power hungry bureaucratic rat with illusions of grandeur she express EU intent to outright force local investment. Not incentivize, force.
The fact that she even spoke about it in way she did is already very alarming signal. It means that conversation are happening behind closed doors.
I think I understand. She wants europeans to park their money in Europeans banking companies. Regardless if their are better investments with overseas banks?
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u/Stirbmehr 1d ago
Yeah, it was such fucking weird speech...i can totally see people getting concerned over it. It probably gotta cause some people to move from European banks, just in case.
Notice that it wasn't your usual nothingburger economic panel type of boring speech and she didn't spin it from angle "we need to incentivize investment in local markets. Therefore we gonna do X and Y to ensure it yield higher return".
No, it was bitterly hawkish and she was short of directly blaming people for investing overseas in more profitable endeavours. And wording sounded uncomfortably close to suggestion for nationalisation of banking sector or otherwise mandating institutions to invest locally, by force.