Meeting in inclusive format, on Monday 4 November the Eurogroup approved a statement setting out its priorities for boosting competitiveness in the European Union, as a contribution to the informal meeting of EU Heads of State or Government on competitiveness to be held in Budapest on Friday 8 November.
Presenting the statement, the President of the Eurogroup, Paschal Donohoe, highlighted the “energy” and “international trade” sectors, “the need to protect the single market”, “the identification of public financing and the role it can play with the delivery of public goods” and the reaffirmation - if needed - of the importance of the capital market union (see other news).
Compared with a provisional version (see EUROPE 13516/2), the text adopted by the Finance Ministers has been modified only marginally.
The European Commissioner for Economy, Paolo Gentiloni, has welcomed the fact that EU Member States now have a “common diagnosis” of the key competitiveness challenges we face and the policy priorities to be implemented. He stressed the importance of “combining public and private resources” and of European funding to guarantee the delivery of common public goods.
“European competitiveness and productivity can be restored by creating the right conditions for companies and industries to grow and scale up in Europe. In this respect, a fully functioning single market, a streamlined regulation and finalising the capital market union are key to unlocking private investments, growth and well being”, said the Finnish Minister, Riikka Purra, on her arrival at the Eurogroup.
See the Eurogroup statement on competitiveness: https://aeur.eu/f/e6d (Original version in French by Mathieu Bion)