Ursula von der Leyen proposes mobilizing EU savings and AI infrastructure

European Commission President Ursula von der Leyen has proposed strategies to mobilize European capital and infrastructure to bolster the bloc's economy and technological independence.

During a speech to business leaders in Paris, von der Leyen addressed the issue of stagnant private savings, noting that approximately ten trillion euros are currently held in private bank accounts. She argued that this capital must be put to work to support European companies and revitalize the eurozone economy.

In tandem with economic mobilization, the Commission is pursuing an AI-driven mission through initiatives like the proposed Cloud and AI Development Act (CADA). This plan aims to fast-track the development of data centres across Europe by creating acceleration zones with expedited permits. However, critics argue these measures may increase reliance on US-based Big Tech firms and potentially bypass environmental protections and local democratic participation rights.