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The bottleneck of guarantees in ELTIF field is actually the last diaphram in Pension Funds involvement in Long Term Investing. Correctly PensionsEurope made this kind of analysis, given the particular nature of PFs. Guarantees added to the evidence of cash flow, long term planning, of regulatory framework stability etc. could open a new era in Long Term Investing in Innovative Common Good Social Infrastructures. This, under the Financial Crisis, could have powerful countercyclical positive effects, given the huge amount of diversification investments. Italian and Deutsche Trades (CGIL and DGB) are just at work to define proper strategies for ELTIF regulation.

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