European Commission President Ursula von der Leyen announced ahead of a summit aimed at boosting the 27-nation bloc’s competitiveness that the European Union needs to break down barriers that prevent it from becoming a true global economic giant.
“Our companies desperately need funding right now, so let’s get it done this year,” he told members of the European Parliament, outlining key steps to close the gap with China and the United States.
remove barriers
Der Leyen believed the current system was “extremely fragmented” and added: “We must somehow make progress in removing the barriers that prevent us from becoming a world power.”
Ms von der Leyen spoke before heading to a senior executive meeting in Antwerp with European Union leaders including French President Emmanuel Macron and German Chancellor Friedrich Merz on the eve of a summit aimed at supporting the EU’s economy.
Strengthening cooperation
One of the main problems identified by the European Union is that European companies, unlike their American counterparts, have difficulty accessing the capital they need to expand.
To address this issue, von der Leyen said the initial plan is for the 27 countries to move forward together, but if no deal is reached, the EU should consider increasing cooperation between the countries it wants.
Von der Leyen pointed out that Europe needs to strengthen its competitiveness by increasing production on the continent and expanding its network of reliable partners.
European Commission President Ursula von der Leyen announced ahead of a summit aimed at boosting the competitiveness of the 27 member states that the European Union needs to break down barriers that prevent it from becoming a true global economic giant.
“Our companies urgently need capital now, so let’s get this done this year,” he told European Parliament members, outlining key steps to bridge the gap with China and the United States.
remove barriers
Von der Leyen believed the current system was “very fragmented” and added: “We must move forward in every way possible to remove the barriers that prevent us from becoming a global power.”
She was speaking on the eve of a summit aimed at supporting the EU’s economy, before heading to Antwerp for a summit with EU leaders including French President Emmanuel Macron and German Chancellor Friedrich Merz.
Strengthening cooperation
Among the main problems identified by the European Union is the difficulty that European companies, unlike their American counterparts, face in obtaining the capital they need to expand.
To address this issue, von der Leyen said the initial plan is to move forward together as 27 countries, but if no deal is reached, the EU should consider increasing cooperation among willing countries.
Ms. von der Leyen emphasized the need for Europe to strengthen its competitiveness by increasing production on the continent and expanding its network of reliable partners.
