The European Union draws a new path to enhance its economic position

The European Union seeks to restore its economic superiority over the global scene, through a new strategy aimed at stimulating innovation, reducing routine, and strengthening the clean industry.

While Brussels seeks to achieve growth, climate activists warn of the decline in Europe’s green obligations.

“The European Union has everything it needs to move forward in the race towards the top, but at the same time we have to fix our weaknesses to restore Competitiveness. ”

What is called a “competitive compass” is an economic strategy that includes stimulating innovation, enhancing the clean industry, and reducing external dependency, so that the bloc can compete with global powers, such as the United States and China.

“Over the past 20 or 25 years, our business model has mainly relied on cheap labor from China, the energy that is supposed to be cheap from Russia, and partly on security and security investments through outsourcing (use of external sources), this, this The days have come. ”

In order to reduce pressure on companies and attract new investments, the Commission pledged to reduce “unprecedented” routine procedures to reduce administrative burdens, and simplify reporting obligations to companies and large institutions by 35%, and 25% for small companies.

According to von der Line, reducing routine procedures would save more than 37 billion euros (38.5 billion dollars) for European companies annually.

The road map announced by the European Commission is based on reports that were formulated last year, two former Italian ministers, Mario Dragi (2021-2022), and Erico Lita (2013-2014).

Daraji is a veteran economist who held the position of President of the European Central Bank between 2011 and 2019.

According to Draghi’s report, the European Union will need to invest between 750 and 800 billion euros annually, to bridge the gap with its competitors and achieve new economic growth. The “Competitive Compass” includes a series of initiatives that have not yet been converted into concrete legislative proposals. The first necessity for Brussels is to bridge the innovation gap with forces such as the United States and China, and to create an environment that encourages the growth of emerging European companies, especially in the strategic sectors, which are currently being slowed due to the difficulty of obtaining capital and complex regulatory regulations.

The second main goal is to remove carbon from the industry, and the main direction of this goal is in a clean manufacturing plan, which is expected to reveal it in late February. It is also scheduled to develop an action plan for “affordable energy” and to update the European Climate Law.