Minister of Finance and European Commissioner Maria Luís Albuquerque discussed the vision of EU capital market development, strengthening sanctions against Russia and Belarus
Today, Minister of Finance Kristupas Vaitiekūnas met with Maria Luís Albuquerque, European Commissioner for Financial Services and the Savings and Investments Union, to discuss how to establish an effective EU capital market in the context of geopolitical challenges, which would open up even better conditions for investment by both businesses and individuals.
"The Savings and Investments Union initiative presented by the European Commission aims to create a deeper, more transparent and integrated EU capital market. Its aim is not only to make it easier for businesses to access finance, but also to help all individuals to invest their savings more effectively. This is particularly important in the current context of global challenges, as the European economy needs to become even more resilient and competitive", Minister of Finance Kristupas Vaitiekūnas stated.
The Savings and Investments Union is designed to address key challenges: over-reliance of small businesses on bank funding, difficulties in raising capital for long-term strategic objectives and innovation; the limited participation of retail investors, where many individuals hold savings in bank accounts rather than investing, preventing the mobilisation of financial flows for investment, and the fragmentation of markets (complicated cross-border investment flows).
The Commission has already taken the first steps towards a Savings and Investments Union: a legislative proposal on the revision of the securitisation rules, a communication on a financial literacy strategy and a recommendation on savings accounts calling on Member States to facilitate investment by individuals by ensuring a convenient administration of the tax.
In the near future, the Commission plans to present legislative proposals on strengthening capital market infrastructure, improving access to capital for small and medium-sized enterprises (SMEs), reviewing the regulation of occupational pension funds and pan-European personal pension products.
However, Lithuania also poses another important task for capital markets. "Geopolitical challenges have highlighted the urgent need to mobilise capital. Capital markets must become a strategic tool that allows diversifying sources of financing, attracting private investment", K. Vaitiekūnas emphasized.
The Minister of Finance and the European Commissioner also discussed the possibilities of strengthening local markets and the need to balance policy measures. It was discussed that in order to mobilise more private capital, it is necessary to combine regulatory simplification, public-private partnerships and active national policies.
The issue of strengthening sanctions against aggressor countries was also discussed during the meeting. The Minister noted that it is necessary to continue the pressure not only on Russia, but also on Belarus, given the regular recurrent hybrid attacks.
"We are pleased that another package of sanctions, already the 19th, was agreed at EU level at the end of October, but further pressure on the aggressor countries, in particular on the Russian energy and financial sector, needs to be stepped up. We must therefore start a serious debate on the next package of sanctions. In this context, especially in the light of recent hybrid attacks on the Belarusian side, we also need to strengthen sanctions against Belarus, aligning them with those imposed on Russia and introducing additional restrictions", Minister of Finance Kristupas Vaitiekūnas highlighted.
Last updated: 07-11-2025
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