The whole of Europe is finding it difficult to invest in the capital markets. All of Europe? No. Many countries in the European Union have excellent examples of how citizens' confidence in saving in securities can be built up. It is worth taking a look across the EU's internal borders. Or to put it another way: it's not just the Americans and their 401k pension schemes that we can learn something from when it comes to capital markets culture. It's also the Swedes and their state pension fund AP7. Or the Dutch and their company pension scheme, which is actively supported by all collective bargaining parties. But also the French with their state investment account for citizens. Or the Danes, whose pension information contains very clear indications of the expected loss of purchasing power – in the form of fewer scoops of ice cream that you will be able to afford later on for a fixed amount.

Bundesbank board member Sabine Mauderer discussed all of these and other examples with the top European insurance supervisor Petra Hielkema last week, in the euro pavilion directly in front of the entrance to the Bundesbank Central Office in Frankfurt's banking district. The duo's appearance marked the start of a series of events with which the Bundesbank aims to promote dialogue about Europe. Another talk focused on the central bank's core topic, namely monetary policy. But there was also a discussion on how sustainability can be integrated into banking supervision. Or what employers need to do to remain attractive to applicants – and why this has something to do with diversity. On Europe Day, 9 May, which is known as „Saint Schuman“ in Brussels, the event culminated in an after work event called „Bundesbank Unplugged“, with a poetry slammer and an arts collective.

Mauderer opened the event by emphatically explaining why overcoming the fragmentation of national financial markets is also an issue for the Bundesbank. After all, the depth of the capital markets and the quality of the financial infrastructure are closely linked to the capacity to finance growth. Through its commitment to financial education, the central bank is also endeavouring to raise awareness among German citizens that capital markets also have something to offer them in terms of wealth creation and retirement provision.

EIOPA boss Hielkema took the opportunity to promote „tracking systems“ for pension entitlements. Seven EU countries already have such „tracking systems“, which give citizens a quick and clear impression of what pension they can expect in old age. Four other countries are currently exploring the development of such information services – and the EU Commission is also considering taking up corresponding proposals from the insurance supervisory authority. However, all of this is only possible in close cooperation with the financial sector.