EU must tap trillions of euros in private savings to keep up with US and China, investors say

Europe must tap into trillions of euros of private savings to fund the economic transformation it needs to compete with the U.S. and China, investors and policy makers said on Tuesday at a Reuters Next event.

“We sit on €35 trillion ($40.7 trillion) of private savings, which is enough to make all of those transitions,” said Benoit Peloille, chief investment officer at Natixis Wealth Management....