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EU summit in Brussels: economic policy against global competition (96 characters)
European Union plans economic change: Brussels is striving to strengthen the domestic economy. Heads of state and government discuss strategies to adapt to global challenges. #EU #EconomicPolicy #Brussels
EU summit in Brussels: economic policy against global competition (96 characters)
Brussels - EU heads of state and government emphasized at their summit in Brussels that a change in economic policy is necessary in view of increasing competition in the West and East as well as geopolitical tensions and subsidy policy. Chancellor Olaf Scholz underlines the untapped potential of the EU's internal market and the need to tap into it.
To protect the EU from growing pressure from the US and China, leaders are focusing on mobilizing money as the key to investment. It is recognized that there are significant private savings within the EU that have not yet been fully exploited. Immediate development of the Capital Markets Union is seen as essential to unlock private capital and promote cross-border investment products.
The efficiency of supervision of the capital markets in the EU is to be increased in order to better monitor financial companies operating across borders. In addition, leaders aim to strengthen citizens' financial literacy in the hope that this will lead to increased investment. Chancellor Scholz expresses confidence that progress in the convergence of European capital markets will have a positive impact on economic growth.
There is also discussion of allowing more state aid to offset the impact of state aid for companies in China and the US. The European Investment Bank and the EU's long-term budget should play an important role in this. In addition, the aim is to significantly reduce the bureaucratic burden on companies and national authorities in order to improve the framework conditions for economic activities in the EU.