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Spanish government launches savings account to invest in European companies

Original: cuenta de ahorro

The Spanish government has announced a new savings account scheme designed to channel household savings into European companies. According to La Vanguardia, the product would allow citizens to invest their savings in European firms, part of efforts in Spain and across the EU to mobilise private capital for productive investment. The proposal is drawing attention as debates grow over how Europeans can get better returns on idle bank deposits.

Why now: The government's new savings vehicle taps into the current debate about channelling European household savings into business investment.

Spanish governmentLa VanguardiaEuropean Union

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