EU Targets Energy, Finance, and Industry Reforms to Counter US, China, Russia
European Union leaders agreed Thursday on a comprehensive plan to restructure the bloc’s economy and strengthen competitiveness in response to pressure from the US, China, and Russia. The 27-nation bloc’s “action plan,” set for formal presentation in March, includes upgrading energy grids, deepening financial integration, and easing merger regulations to support the growth of European firms, European Commission President Ursula von der Leyen said.
European Council President António Costa called the plan a “real game changer,” highlighting a unified approach following strategic differences between traditional power centers in France and Germany. French President Emmanuel Macron and German Chancellor Friedrich Merz emphasized the need for a faster, more competitive EU industry. Italian Prime Minister Giorgia Meloni also supported deregulation and trade deals while France pushed for “strategic autonomy” to reduce dependence on Washington.
The plan seeks to protect key sectors such as cleantech, chemicals, steel, automotive, and defense, while introducing new financial instruments, including proposed Eurobonds, to strengthen the EU’s position in global trade. Leaders stressed urgency to simplify regulations, enhance infrastructure, and expand trade ties to meet challenges from tariffs, restricted mineral exports, and hybrid threats.
EU officials noted strong public demand for a unified, ambitious Europe capable of responding to military, economic, and climate pressures, signaling broad political support for rapid implementation.
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