"We need to simplify regulations" - Von der Leyen: EU to be more globally competitive
"The European Union must simplify regulations for companies doing business in the region in order to make the bloc more competitive against countries like the United States and China," said European Commission President Ursula von der Leyen.
"Let me take the example of the US again. One financial system, one financial capital and a handful of other financial centres. Here in Europe, we don't just have 27 different financial systems, each with its own supervisor," she said in a speech to the European Parliament.
"We need a large, deep and liquid capital market. And that is the aim of our Savings and Investment Union," she added.
Von der Leyen said she would propose to EU leaders to adopt at a summit in March a joint plan for the single market until 2028, with a clear agenda for when steps will be taken to deepen the single market.
The European Commission president also stressed that requirements for EU-made and low-carbon goods will be introduced for public procurement in an effort to favor European companies.
"Too often, our public buyers have to buy subsidized foreign products, instead of high-quality European alternatives. This is domestic value that we are leaving on the table," she said.
The requirements set out for public procurement will be a central focus of the Industrial Acceleration Act that the Commission will present later this month.
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