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EU's Competitiveness Deal: Common Debt Rejected
EU leaders adopt a competitiveness deal to boost the economy, but reject common debt despite warnings of stagnation.
Italian
United States
EconomyEuropean UnionInvestmentEconomic GrowthDebt
European UnionEuropean Central BankEuropean CommissionEuropean Investment Bank
Mario DraghiCharles MichelUrsula Von Der LeyenDonald Trump
- What is the main purpose of the "New European Competitiveness Deal"?
- The EU leaders approved the "New European Competitiveness Deal" to boost the stagnant economy and bridge the gap with the US and China, addressing concerns of deindustrialization and decline.
- What are some key measures included in the deal to improve competitiveness?
- The deal includes measures to deepen the single market, unlock funds for SMEs and startups, reduce bureaucracy, promote national high technology, conclude sustainable trade agreements, and invest 3% of GDP in R&D.
- Why wasn't Mario Draghi's proposal for common debt included in the final agreement?
- Mario Draghi's crucial recommendation of common debt issuance was not included due to opposition from Germany and the Netherlands; instead, the leaders pledged to make better use of existing instruments and explore new tools.
- What is Ursula von der Leyen's perspective on financing the competitiveness initiatives?
- Ursula von der Leyen stated that public and private investment must combine and that if there are areas where European-scale funding is better, they can discuss how to finance them without explicitly mentioning common debt.
- What is the EU's approach to financial solidarity in light of the competitiveness challenges?
- While acknowledging the difficulty of financial solidarity, EU leaders emphasized the need for structural reforms to build trust and ensure the success of the competitiveness deal.