Welcoming the much-anticipated report on the future of the EU’s competitiveness, presented today by Professor Mario Draghi, BusinessEurope President Fredrik Persson said:
"We welcome the release of this comprehensive report and extend our gratitude to Professor Draghi and his team for the extensive work. The report will undoubtedly play a critical role in shaping future EU strategies and policies.
A stark and alarming conclusion of the report is that the European Union is lagging behind its global competitors – a reality that European companies experience daily. We fully endorse the call for a frank and urgent discussion on the disruptive measures the EU must adopt to regain its competitive edge. BusinessEurope has long advocated for a reboot in European policies as we enter the next institutional cycle." - Read more
After years of consecutive crises, European businesses find themselves at a structural disadvantage vis-à-vis global competitors as a consequence of high energy prices, a mounting regulatory burden, and limited financing opportunities. While the global economy grew by 3.2% in 2023, the EU economy stagnated in real terms in the same year, as 10 member states saw their economy contract. The strong performance of the EU’s services sector contrasts with industry, as industrial production across the EU declined by 1.8% in 2023 and the vast majority of member states saw their industrial output decline by up to 12.1% compared to the previous year. In 2024, our latest Spring Economic Outlook expects the EU economy to grow by 1.2% in 2024, compared with an expected 5% growth in China and 2.6% in the US. - Read more
Discover our position paper for an insightful look into better regulation within the EU. We outline key objectives, principles and tools, and offer strategic recommendations to strengthen political commitment across EU institutions. BusinessEurope strongly supports the EU´s better regulation agenda as a safeguard of democratic decision-making. It is about enhancing the quality of policy and law-making and ensuring the legitimacy and accountability of EU governance. - Read the position paper
Working with Compass Lexecon, we evaluated how Europe can meet its climate and energy targets in the most cost-effective manner while maintaining international competitiveness. Timely and strategic political decisions will be crucial. Watch our video to know more.
As a new legislative term begins, BusinessEurope is putting forward policy priorities across the areas of R&I, Sustainable Finance, the environment, and the circular economy. The overarching goal of these policy proposals is to unlock the investments which are crucial for the EU to keep up with its global competitors and enhance its attractiveness as a business and investment location.
In a panel discussion at the Salzburg Summit 2024, organised by our member, the Federation of Austrian Industries (IV), Director General Markus J. Beyrer emphasised the need for rapid political action at EU level to improve investment conditions by massively reducing bureaucracy and regulatory burdens, deepening the single market and pursuing an open and ambitious trade agenda. ‘In the coming months, we must succeed in signalling to companies in and outside Europe that it is worth investing in Europe again,’ he emphasised.
In view of the sluggish economic outlook and the weak economic indicators for the European economy, Beyrer emphasised in particular the urgency of closing the energy cost gap with our global competitors, which has widened considerably in recent years, and which continues to put European companies at a severe economic disadvantage.- Read more
Today, we are publishing a new, in-depth study developed with economic consultancy Compass Lexecon, showing that a more competitive energy and climate transition is still possible but only if swift action is taken by EU legislators during the next EU cycle. The study shows that even in the case of a managed transition, with more supportive EU policies, energy costs in Europe would be at least 50% higher than that in the US, China and India by 2050. "This will put European companies at a serious competitive disadvantage with these key players, which is why we need urgent action at EU level to bridge this gap so that Europe can achieve climate neutrality by 2050 without deindustrialising", warned our Director General Markus J. Beyrer. Based on the study, we have identified seven concrete actions for a successful energy and climate transition. - Read more
09/09/2024Press releasesWelcoming Draghi report, we call for urgent action to restore the EU’s competitive edge
21/08/2024Reports and studiesPreserving Europe's industrial base must be at the forefront of the next EU Cycle
14/08/2024Position papersBetter regulation in the new EU legislature
08/08/2024Reports and studiesHow will the EU energy system's transition towards 2050 impact competitiveness?
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