Urgent Call for Competition Improvement Reforms in the EU

Calls for Reform to Enhance Competition in the EU

In an important speech at the European Parliament, Ursula von der Leyen stated, "Let's revisit the US example. A single financial system, a single financial capital, and a few other financial hubs. In Europe, however, we have 27 different financial systems, each with its own regulator."

Pointing out bureaucratic obstacles, von der Leyen remarked, "We have more than 300 trading platforms across our Union. This indicates excessive fragmentation. We need a large, deep, and liquid capital market. This is the primary goal of our savings and investment union."

Von der Leyen emphasized that she would urge EU leaders to approve a roadmap for the internal market by March's EU summit, highlighting the need for a clear timeline to deepen the internal market.

Schnabel: Europe Needs Reform

Isabel Schnabel, a member of the European Central Bank (ECB) Governing Council, drew attention to the need for reform in Europe in an article published in the Financial Times. Schnabel noted that while the economic fundamentals of Europe are strong, necessary measures must be taken.

Schnabel stated, "The narrative that Europe is stagnant is not based on reality for a large portion of Eurozone countries." These statements supported the growing calls for the ECB to enhance its weakening competitive strength.