Štednja i investicije u Evrozoni značajno rastu od 2012. godine, zahvaljujući brojinim regulaltornim merama koje su uvedne na finansijskom tržištu EU od početka svetske krize. Efekti mera vidljiviji u razvijenim ekonomijama EU a manje u državama s periferije.
Oporavak finansijskog sektora EU nakon udara krize, zahvaljujući brojnim reformskim merama, doprineo je porastu štednje i investicija. Evropska monetarna unija stvorila uslove za poboljšanje ekonomske i finansijske integracije u eurozoni, i na taj način ublažila ozbiljne neravnoteže u štednji i investicijama, kreditnim i stambenim udarima u nekim zemljama, kao i u raspodeli resursa prema manje produktivnim sektorima. Pozicija Evrozone je danas daleko povoljnija, s tim sto proces prilagođavanja nije potpun. Neravnoteže u raznim sektorima dovele su do akumulacije visokih nivoa obaveza koje još uvijek treba smanjiti i dovesti na održiv silazni trend.
Neto štednja Evrozone raste kontinuirano niz godina. Gledano po strukturi finansijskih sektora Neto nefinansijske investicije u evrozoni rastu zahvaljujući povećanim investicijama nefinansijskih korporacija i smanjuju neto kreditiranju evrozone ostatku svijeta, dok su neto pozajmice domaćinstava bile uglavnom stabline. Period 2012-2018. godina odlikuje smanjenje neto pozajmljivanja od strane privatnog sektora koje je u celosti pojačano povećanjem neto pozajmljivanja od strane vladinog sektora.
Legenda: milijarde Evra
Izvor ECB
Euro area net savings and investments have grown significantly since 2012, thanks to a number of regulatory measures introduced in the EU financial market since the beginning of the global crisis. The effects of measures are more visible in developed EU economies and less in the periphery countries.
Recovery of the EU financial sector after the crisis hit, thanks to numerous reform measures, has contributed to an increase in net savings and investment. The European Monetary Union has created conditions for improving economic and financial integration in the Euro area, and thus mitigate serious imbalances in savings and investment, credit and housing booms in some countries, and the allocation of resources towards less productive sectors. The position of Eurozone today is far more favorable, but the adjustment process is not complete. Imbalances in various sectors have led to the accumulation of high levels of liabilities that still need to be reduced and brought on a sustainable downward trend.
Euro area Net saving is growing continuously for many years. Given the structure of financial sectors, net non-financial investments in the Euro Area are rising, owing to increased investments by non-financial corporations and reduced Euro area net lending to the rest of the world, while Net lending by households were mostly stable. During the period 2012-2018, the decrease in net lending by the private sector as a whole was amplified by an increase in net borrowing by the government sector.
Legend: EUR billions
Source: ECB