What is the reason for the euro zone's excess savings?

Since 2012, the euro zone has had substantial excess savings reflected by its external surplus. What is the reason for these excess savings? The low level of investment ( corporate , housing, public )? Increased savings ( corporate , household, public )? How can the excess savings be corrected ? The persistence of very low real interest rates seems to be very ineffective; Looking at the source of the excess savings, we find that the following could be considered ; Increasing the fiscal deficit by increasing public investment; Increasing wages faster to stimulate household housing investment.