Billy Kelleher urges rapid rollout of Savings and Investment Union
Billy Kelleher, MEP, welcomed the EU leaders' decision on the 19th and the 20th of February to accelerate the completion of the Savings and Investment Union and urged immediate action to deliver it. He argued the project must work from the centre out, using private capital to invest in infrastructure, support SMEs and create jobs across the EU.
Summary
Billy Kelleher set out why the Savings and Investment Union matters: to channel private capital into infrastructural projects, accelerate small and medium-sized businesses, and create job opportunities across the European Union. He welcomed the February decision by EU leaders and called for pace rather than further delay.
Policy proposal and purpose
Kelleher argued the initiative must be practical, working from the centre out, and insisted those who remain in ideological silos should evaluate the project on its purpose: boosting competitiveness and job certainty. He framed the Union as a tool to mobilise private investment for tangible economic outcomes.
Context: Draghi report and investment gap
The speaker referenced the Draghi report's findings on deficiencies in the investment gap, saying this highlights why political stagnation and bureaucratic paralysis are unaffordable. He urged that the Savings and Investment Union be discussed in that context and used to close the gap.
Next steps and consequences
Kelleher said action is required now and suggested that if some countries move too slowly, others should proceed without them while encouraging lagging states to follow. The remarks underline a push for concrete delivery of the Savings and Investment Union to strengthen EU competitiveness and jobs.
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Thank you very much. The next speaker is Billy Kennedy. Yes, I welcome the decision of the EU leaders on the 19th and the 20th of February to accelerate the completion of the Savings and Investment Union. And indeed, when you listen to the debate here, it's quite clear that this particular project will have to work from the centre out again. And I'd urge those to come out of their ideological cabins and look at what we're trying to do here, which is effectively using private capital to invest in projects, in infrastructural development, in stimulating the acceleration of small and medium-sized businesses, and in creating job opportunities across the European Union. It's about making Europe more competitive, and I cannot understand why people on the left or people on the extreme right could object to the concept of making Europe more competitive and creating job certainty. So I would urge all concerned to look at this from the purpose of what it's about. And certainly, if we have an opportunity to debate this in the near future, we should also look at it in the context of the Draghi report and what it highlights with regard to the deficiencies in the investment gap. We certainly do not need any further political stagnation, bureaucratic paralysis. What we need now is action to bring forward the Savings and Investment Union. And if those countries that are too slow to move with this, we do need to move ahead without them, but still encourage them to stay in our coattails so they can eventually catch up. Thank you.
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