Banks call for more financial integration during Ireland's EU presidency

Banking and Payments Federation Ireland says the Government’s presidency offers the opportunity to drive progress

Banking and Payments Federation Ireland (BPFI) chief executive Brian Hayes. File picture 

The banking sector is urging the Government to use its upcoming presidency of Council of the European Union to push forward further financial integration across the bloc as well as the EU Savings and Investment Union (SIU).

The SIU is a proposal to create better financial opportunities for EU citizens, while enhancing the bloc’s financial system’s capability to connect savings with productive investments. It aims to allow easier access to capital across the EU, particularly for small- and medium-sized businesses.