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EU summit: Chancellor Scholz pushes for economic reforms
EU heads of state and government are focusing on competitiveness - Chancellor Scholz is pushing for measures to strengthen the economy. How should the EU react?
EU summit: Chancellor Scholz pushes for economic reforms
At their summit in Brussels, the EU heads of state and government made a clear commitment to strengthening competitiveness in Europe. Chancellor Scholz was particularly committed to measures that would further develop the European capital markets and the banking union. He emphasized that the use of existing financial resources for areas such as renewable energies, digitalization and crisis management is crucial. Scholz highlighted that the underdeveloped capital markets in Europe could be a reason why economic growth is lagging behind other regions of the world.
The heads of state and government commissioned the EU Commission to develop concrete proposals to harmonize insolvency law, adapt tax systems and monitor financial markets. These tasks will primarily be the responsibility of the upcoming EU Commission after the European elections. Summit participants also pushed for progress on trade agreements, particularly the Mercosur free trade agreement.
In addition to economic issues, political issues such as the situation in Ukraine and the Middle East were also on the agenda. New sanctions against Iran's missile and drone program have been decided. Germany and other EU countries discussed the possibility of helping Ukraine in the area of air defense. Alternatives to the “Patriot” systems were also discussed. Ukraine pushed for a rapid strengthening of its air defense as the NATO-Ukraine Council special session prepared upcoming decisions.