Full Capital Markets & Savings Union
Turn the €33 trillion in European household savings and pension assets into productive investment at continental scale — funding European companies, infrastructure, and global expansion.
— Renaissance Europe Institute
Advancing a unified, coordinated and strategically independent Europe
The Renaissance Europe Institute is a Europe-based think tank focused on the economic, industrial, technological, financial, energy and geopolitical foundations required for Europe to remain a leading global power in the 21st century.
— Latest research
EuropeCapital Markets
The Capital Markets Union and Savings and Investments Union: Unlocking Trillions for EU Competitiveness
The EU’s Savings and Investments Union could unlock trillions in underused household savings, deepen capital markets, lower financing costs, and help close Europe’s annual investment gap. If fully implemented, it would strengthen innovation, resilience, and competitiveness against the US and China.
— Editorial Position
“Europe has the talent, capital, institutions and industrial base to lead globally. But fragmentation taxes every decision. The Renaissance Europe Institute exists to advance a unified, more competitive and strategically independent Europe — through independent analysis and a clear commitment to Europe's long-term strength.”
Why we exist
Through research, public debate, policy events and high-level convening, the Institute brings together policymakers, executives, investors, academics and leaders from strategic sectors to discuss the long-term future of Europe.
Europe has the talent, capital, institutions and industrial base to lead globally — but it must overcome fragmentation, strengthen its strategic sectors and build deeper coordination across capital markets, defence, energy, technology and industry.
The Renaissance Europe Institute exists to contribute to that debate — with independent analysis, serious discussion and a clear commitment to Europe's long-term strength.
/ 01 — Research Programmes
Five pillars of a sovereign, integrated Europe
Our work is organised across five interlocking research programmes — capital markets, regulatory integration, defence, energy sovereignty, and industry and technology. Each programme produces long-form papers, executive briefs, and policy recommendations grounded in measurable continental outcomes.
One Europe, One Rulebook
End fragmentation in regulation, taxation, and corporate law. Build a unified single market with the execution discipline to scale startups into global champions before they leave the continent.
Military & Intelligence Independence
Develop full-spectrum defence, space, cyber, and intelligence capabilities, with interoperable procurement and credible deterrence — to protect and project European interests independently of any single ally.
Energy Sovereignty
Secure abundant, low-cost, low-carbon energy across nuclear, renewables, grid, and storage. Eliminate external dependence and restore European industrial competitiveness on energy-intensive value chains.
Industry & Technology Leadership
Build the regulatory frameworks, capital pipelines, and public-private partnerships that prioritise European companies in strategic sectors — semiconductors, AI, biotech, advanced materials, and space.
/ 02 — Latest Insights
Recent papers, briefs & analysis
Long-form policy research, scenario analyses, strategic blueprints, and executive briefs published by our resident fellows and external contributors — covering capital markets, defence, energy, industrial policy, and European strategic integration.
Europe
The Capital Markets Union and Savings and Investments Union: Unlocking Trillions for EU Competitiveness
The EU’s Savings and Investments Union could unlock trillions in underused household savings, deepen capital markets, lower financing costs, and help close Europe’s annual investment gap. If fully implemented, it would strengthen innovation, resilience, and competitiveness against the US and China.
/ 03 — Editorial Line
Europe is not losing for lack of talent — it is losing because fragmentation taxes every decision. Scale is power. Europe must act as a single economic force.
REI
Renaissance Europe InstituteEditorial position
/ 04 — Europe in figures
The continental balance sheet, 2026
A working snapshot of the continental indicators that define Europe's strategic position — benchmarked against the United States, China, and the G7. Sourced from Eurostat, ECB, IEA, and NATO.
EU‑27 Nominal GDP
€19.3T
▲ +2.1% YoY
Aggregated EU GDP at market prices. The continent remains the world's third-largest economic bloc, but growth has trailed the US for nine of the last twelve years.
Household savings pool
€33T
▲ +3.4% YoY
Total European household financial assets. Roughly 35% sits in low-yield deposits — capital that a real Savings & Investments Union could redirect into productive equity.
Public defence spending
€395B
▲ +14.2% YoY
Aggregate EU defence outlays in 2025, up sharply since 2022 but still fragmented across 27 procurement cycles and seven non-interoperable platforms.
Energy import bill
€421B
▼ -8.1% YoY
Net energy imports to the EU‑27. Down from peak 2022 levels but still equal to ~2.3% of GDP — the structural cost of incomplete energy sovereignty.
Listed equity market cap
€11.8T
▼ vs US -52%
Total market capitalisation of EU‑listed equities — roughly 28% of the comparable US figure, illustrating the depth gap a Capital Markets Union would close.
R&D intensity
2.27%
▼ vs US‑3.5% · KR‑5.0%
EU R&D spending as % of GDP. Below the Lisbon Strategy 3% target set in 2000, and well behind innovation peers, with high variance across member states.
Population
449M
▲ +0.3% YoY
Combined EU‑27 population. The single largest integrated consumer base in the OECD — but split across 24 official languages and 27 regulatory regimes.
Green tech share
14%
▲ +2.8 pts YoY
EU share of global cleantech manufacturing capacity. The continent leads on offshore wind and electrolysers but trails on solar PV, batteries, and grid hardware.
/ 05 — Forthcoming Convening
The Awakening of Europe — June 2026
An inaugural off-the-record convening of policymakers, industrialists, military leaders, and investors focused on Europe's strategic awakening — political unification, sovereign capacity, and the return of hard power to the centre of policy.
Inaugural Convening
The Awakening of Europe: Unification, Sovereignty, and Hard Power
FormatClosed-door, 80 seats
LanguagesEN · ES · FR (sim.)
Chatham HouseYes
A working session organised across four moderated tracks: capital markets and the Savings Union, European defence after Vilnius, energy sovereignty and industry, and the political arithmetic of treaty change. Each track produces a one-page memo published the following week.
/ 07 — Topics we cover
The questions shaping Europe's next decade
Explore our published work organised by topic — from capital markets integration and energy sovereignty to defence procurement, AI foundations, industrial leadership, and the structural reforms required for Europe to act as a unified strategic power.
Capital Markets UnionEuropean strategic autonomySavings & Investments UnionEnergy sovereigntyDefence procurementSingle marketIndustrial policyAI sovereigntyTreaty reformNATO & transatlanticCritical mineralsSemiconductorsNuclear & SMRsContinental gridEurobondsSpace & launchCyber doctrinePublic listingsMigration & talentRegulatory simplificationCarbon marketsBiotech & pharmaEU enlargement
Countries we research
- Germany — Strategic blueprint
- France — Capital & defence
- Italy — Industrial scale
- Spain — Energy & demographics
- Poland — Eastern flank
- Netherlands — Capital markets
- Sweden & Finland — NATO integration
- Belgium — Institutional reform
Sectors we track
- Defence & aerospace
- Semiconductors & advanced computing
- Nuclear, renewables & storage
- Banking, insurance & pensions
- Pharma & biotech
- AI infrastructure & foundation models
- Space, launch & sovereign data
- Critical minerals & refining