Brussels – During a recent meeting, finance ministers from EU member states (Ecofin) focused primarily on the Competitiveness Compass, as confirmed by Slovak Finance Minister Ladislav Kamenický (Smer-SD) following two days of discussions in Brussels.
Kamenický noted that at the onset of the negotiations, he held a bilateral meeting with his German counterpart to address issues related to EU competitiveness. He specifically called attention to the elevated energy prices in Slovakia, which are four times greater than those in the United States.
The key topic of discussion in Brussels was the Competitiveness Compass, introduced by the European Commission in January. This initiative encompasses a range of measures aimed at enhancing Europe’s competitiveness, with considerable emphasis on the Capital Markets Union.
The EU has been discussing the completion of the Capital Markets Union for some time, and according to Kamenický, the outcomes of the US presidential elections could catalyze progress in this area. He emphasized that “everyone recognizes” the need for the EU to take action and return to fundamental economic principles to avoid significant challenges. This may involve rectifying certain errors, such as easing the stringent aspects of the European Green Deal that have adversely affected competitiveness.
Leave a Reply