The crucial issue of the use of savings and the role of finance

We us e the example of the euro zone. Into what uses has finance channelled savings among: Corporate financing; Financing of housing; Financing of the rest of the world; Financing of governments, either to cover public investments or current fiscal deficits. We see that: Before the 2008 crisis, finance drove euro-zone savings primarily to companies, housing and public investment; Since the 2008 crisis, finance has driven euro-zone savings primarily to the rest of the world and to the financing of current-account fiscal deficits, which is definitely not a desirable development.