​On 7 October plenary session the Committee of the Regions has adopted its opinion drawn up by Witold Krochmal (PL/EA), Member of the City and Municipal Council of Wołów, on Long-Term Financing of the European Economy.
 
On 7 October plenary session the Committee of the Regions has adopted its opinion drawn up by Witold Krochmal (PL/EA), Member of the City and Municipal Council of Wołów, on Long-Term Financing of the European Economy.
Efforts are needed to ensure more transparent and efficient use of public funds, especially of the European funds, to maximise the return on public investment, its contribution to growth and its ability to leverage private investment. As part of efforts to diversify financing sources for the European economy, the best possible conditions must be put in place for the development of European capital markets, with financial instruments structured so as to enable investment in listed SMEs. Heavy dependence on bank intermediation, combined with bank deleveraging and reduced investor confidence, has reduced funding for all sectors of the economy.
 
"I am confident that suitable legal regulation of the European economy's long-term economic financing system will overcome risk aversion among potential investors. Long-term financing sources should be targeted at economic projects, at the same time as reflecting the climate and energy package for 2030," said Mr Krochmal. "In this opinion I advocate for conditions to enable long-term financing of the economy by retirement funds and insurance companies. This could involve long-term investments in education, health care, infrastructure, SMEs and enterprises."