France, Germany and Italy Call on the EU to Act Quickly to Prevent Economic Decline
Presidents of Medef, Der and Confindustria sign the common declaration at the end of the 6th Trilateral Business Forum. Nov. 22, 2024. X/ @baron_jf
November 22, 2024 Hour: 8:36 am
Trump’s election as president should serve as a wake-up call for Europe to prioritise its own interests, Italian minister Urso said.
On Friday, the economy ministers of France, Germany, and Italy called for joint action by the European Union to bolster competitiveness against the United States and China.
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“Collectively, we need to pick up the pace of action,” emphasized France’s Economy Minister, Antoine Armand, during the closing session of the Trilateral Business Forum organized in Paris by the business associations of the three countries. He warned that if decisions continue to be delayed, “entire sectors will be wiped out.”
“What we need is a policy that strengthens Europe’s industrial base,” stated German Secretary of Economy Bernhard Kluttig. He stressed that “it’s important that we act together” and, most critically, “we must act immediately” with “sensible pragmatism,” which includes simplifying regulation.
“We need to act fast, fast, fast,” echoed Italy’s Economy Minister, Adolfo Urso, who referred to the repercussions of accumulated delays, as detailed in Mario Draghi’s report on Europe’s competitiveness issues. For Urso, Donald Trump’s election as U.S. president should serve as a wake-up call for Europe to respond and prioritize its own interests as Washington does.
“Europe’s problem isn’t the U.S. or China, because Europeans can’t decide for those countries. The problem is that Europe doesn’t decide,” Urso pointed out, insisting that EU environmental policy must align with strategic autonomy and address the realities of the world pragmatically. This does not mean abandoning the major goals of the European Green Deal but rather reorienting them “without giving up either prosperity or independence.”
The German secretary stressed that the EU needs “trade agreements” in the current context and specifically advocated for the agreement negotiated with Mercosur, which is currently blocked, primarily due to France’s firm opposition, citing significant potential harm to its agriculture.
Kluttig also noted that “reducing bureaucracy is a decisive factor for progress,” adding that businesses should not be forced to expand administrative control departments but should instead increase their number of engineers to accelerate innovation.
On Friday, the Movement of French Enterprises (MEDEF), the Federation of German Industries (BDI), and General Confederation of Italian Industry (Confindustria) signed a joint declaration calling for a boost in competitiveness, a reduction in bureaucracy, accelerated innovation, and facilitated investment through a single capital market.
“We must move from words to action,” demanded the MEDEF president, Patrick Martin, who announced his intention to present this declaration to European Commission President Ursula von der Leyen. In their declaration, the business organizations stated that the next months leading up to Trump’s inauguration would be crucial for Europe to make a decisive shift. Otherwise, “opportunities will be lost, and it will be too late.”
teleSUR/ JF Source: EFE
