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Italy and Germany have recently sent a clear message to the European institutions: without concrete reforms, the European Union risks losing ground to global powers such as the United States and China.
In a joint document presented ahead of a meeting between European leaders, the two countries emphasise the urgency of intervening to improve the competitiveness of the European economic system. Among the main issues highlighted are excessive bureaucracy, the slowness of authorisation processes, and the barriers still present within the single market.
The objectiveis to make Europe a more favourable environment for businesses and investments, through concrete measures such as regulatory simplification, acceleration of procedures, and greater integration in key sectors such as services, energy, capital markets, and digital.
The documenthighlightsthat European competitiveness is also closely linked to the ability to adapt to an increasingly competitive and unstable global scenario. In this context, Italy and Germany urge the European institutions to quickly transform these proposals into operational actions, thereby strengthening Europe's role in the international economic landscape.
Source: Reuters – Germany, Italy warn of risks to EU competitiveness