No, savings that sit in a bog-standard savings account do very little other than fund banks so they can make money (fractional reserve shenanigans etc) while you make virtually no interest and have no say where and how your money is being used. The context here is being lost somewhat. What this is, is the EU’s attempt at getting savers to invest their savings into stocks and shares of EU companies and startups etc supposedly to help growth and improve returns for the consumer compared to leaving their money sitting in a savings account. Very much like a Stocks and Shares ISA we have in the UK as well as pension products (or like a 401k in the US). The EU citizen will have the choice to save in these products or not and perhaps which stocks/shares their money enters. I say better to buy Bitcoin instead in order to retain ultimate control over your money.