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ReportEurofiSeptember 2026338 pages507 min readOriginal source
Key number
€1.2 trillion €
Annual EU Investment Needed p.10
Largest segment
75% %
Share of EU Corporate Financing from Banks p.10
What changed
26 % %
French Defence Bank Financing Growth p.45

Summary

  • Mario Draghi estimated that the EU requires €1.2 trillion of annual investment to compete globally in an integrated market of 450 million people.p.10
  • Central government borrowing from debt markets across OECD countries reached USD 17 trillion in 2025 and is projected to rise to USD 18 trillion in 2026.p.28
  • The Draghi Report estimates an additional annual investment need of around €750-800 billion per year between 2025 and 2030 for Europe.p.31
  • European venture-capital funds total roughly €150 billion compared to about €930 billion in the United States.p.42
  • Outstanding financing from the six main French banking groups to French defence companies exceeded 46.6 billion euros at end 2025, representing a 26 % year-on-year increase.p.45
  • Developed market sovereign general government debt is estimated by Fitch Ratings to exceed USD75trn by end-2026.p.35

Key insights

  1. Banks currently finance 75% of corporate financing needs across the European Union.p.10
  2. France's general government budget deficit reached 5.1% of GDP last year, pushing public debt close to 120% of GDP.p.24
  3. Assets earmarked for retirement reached USD 70 trillion across OECD countries by 2024.p.28
  4. EU research and development spending has stagnated at 2% of GDP over the past decade compared to 3.5% in the United States.p.30
  5. Estimates indicate that up to 15% of corporate entities in Western economies exhibit zombie-like characteristics due to prolonged low interest rate environments.p.37
  6. Intangible asset-holding firms demonstrate approximately a 40% lower probability of default and a loss-given-default rate around 50% lower.p.39
  7. Private credit in Europe is projected to reach €700-800 billion of the €3 trillion global total by 2028.p.41
  8. IPOs of venture-backed technology companies generated over $250 billion in liquidity in the United States since 2020, compared to approximately €40 billion in Europe.p.43
  9. Defence financing currently accounts for only around 0.3% of total loans and advances of EU banks.p.44

Topics and entities

EuropeFranceGlobalUKAI in financeBankingPrivate marketsRegulationVenture capitalAIBAmazon Web ServicesAXA GroupBarclays EuropeCentral Bank of IrelandCrédit Agricole S.A.European Banking AuthorityEuropean Central BankEuropean CommissionFitch RatingsGroupe BPCEInternational Monetary FundJPMorgan Chase & Co.Moody's RatingsOECD

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