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EU summit: Europe plans to advance capital markets union
EU is planning economic policy changes in order to survive in global competition. Will strengthen investments and state aid for domestic companies. #EUeconomic policy #state aid #investment #EuropeanUnion
EU summit: Europe plans to advance capital markets union
The EU plans to strengthen the domestic economy so as not to lose out in international competition with the USA and China. At their summit in Brussels, the EU heads of state and government decided to adapt economic policy to current challenges. The world's largest internal market still has untapped potential and opportunities that need to be tapped.
To prevent the EU from falling behind, it is crucial to mobilize more money. Public and private financing is considered necessary to invest in key strategic areas and infrastructure. A special report highlights the priority of mobilizing money from individuals and companies. There are around 33 trillion euros in private savings in the EU, of which around 300 billion euros are diverted abroad every year.
Heads of state and government are pushing for the immediate promotion of the Capital Markets Union to unlock private capital. The efficiency of supervision of the capital markets should be improved and citizens' general financial knowledge should be strengthened. More state aid in Europe and reducing bureaucracy are also part of the discussion in order to increase competitiveness and offset the effects of state aid from China and the USA. The aim is to introduce stricter state aid rules at national level, but at the same time make more public money available for European projects.