SPEECH BY JOHN BERRIGAN AT THE FINANCING EUROPE 2026 CONFERENCE

John Berrigan, serving as the Director General for Financial Stability, Financial Services, and Capital Markets Union, delivered a keynote address on May 12, 2026, at the Financing Europe 2026 conference. His speech focused on the importance of EU financial integration, a topic he has passionately advocated for over three decades.

In his opening remarks, Berrigan reflected on the pressing need for financial integration within the EU, emphasizing that the current geopolitical landscape necessitates a robust EU economy. He described the ongoing turbulence within Europe—characterized by stagnant economic growth, an intense race for innovation, shifting demographics, and a volatile global environment influenced by wars in Ukraine and the Middle East.

Berrigan articulated that security in Europe is closely tied to economic strength, stating, “We cannot be geopolitically secure if we are not geoeconomically strong.” This context underscores the urgency in striving for an integrated EU financial system, reinforcing economic competitiveness as a vital matter of survival.

The speaker outlined the Savings and Investments Union (SIU) initiative as the EU’s latest strategy aimed at building a cohesive financial framework. He highlighted the SIU’s goal to foster a well-integrated capital market and banking sector, thereby enhancing financing accessibility across member states by channeling robust savings into effective investments. Berrigan stressed that both Member States and the European Parliament have endorsed the SIU’s objectives, demonstrated by supportive conclusions from the European Council and the commitment to the “one Europe, one market” roadmap.

With the establishment of this roadmap, there is a strong institutional commitment to expedite the main legislative proposals of the SIU. Since March of the previous year, the European Commission has been diligently formulating ambitious proposals integral to the SIU strategy, focusing initially on capital markets.

Berrigan outlined several actions pertaining to capital markets, which fall under four primary categories: citizens and savings, investments and financing, market integration, and supervision. He explained that these initiatives are designed to empower private investors, particularly in critical sectors like deep tech, biotech, cleantech, and defense.

Efforts within the SIU also include recommendations encouraging EU citizens to invest in capital markets, aimed at enhancing their financial returns while simultaneously supporting economic growth. The Commission has proposed Savings and Investment Accounts (SIA) and a comprehensive financial literacy strategy.

In terms of investment and financing, Berrigan emphasized measures to facilitate access to diverse sources of capital for companies, which includes the Securitisation Proposal aimed at reviving the securitization market by enhancing due diligence and transparency standards. Also highlighted were initiatives to stimulate equity investments by institutional investors and foster venture capital development.

He underscored the importance of market efficiency, explaining that the SIU strategy encompasses a comprehensive legislative package targeted at market integration and oversight. Addressing past challenges of capital-market fragmentation, these initiatives aim to build a single, scalable capital market essential for EU growth.

Another focal point of Berrigan’s address was the necessity to address the competitiveness of the banking sector. He revealed plans to publish a report on this matter in July, stressing that thoughtful reforms are needed to balance growth with financial resilience.

In concluding his speech, he reiterated the need for the EU to move beyond mere ambitions towards tangible actions regarding the SIU strategy. He articulated three essential standards for measuring success: speed, ambition, and integrity. Echoing his call for urgent and cohesive reforms, Berrigan urged all stakeholders, including the private sector, to collaborate towards making the SIU initiative a formidable success.