Business - EU unveils "Competitiveness Compass" to cut red tape and spur investment

EU economic simplification plan

The EU plans to simplify their regulations, boost innovation and cut red tape in order to compete with China and the US and reverse Europe’s economic decline. Ursula von der Leyen has announced the plans for “an unprecedented simplification effort” in the first key policy proposal in her second term as the head of the European Commission. She has named the plans the Competitive Compass and they… Source

Business - EU unveils "Competitiveness Compass" to cut red tape and spur investment

The European Commission has unveiled its long-awaited roadmap to revamp the sluggish economy.  The Competitiveness Compass builds on recommendations of last year's report by former ECB President Mario Draghi. Plus, the UK government gives its backing to building a third runway at London's Heathrow Airport.

Twenty-five years after promising, in vain, to become “the most competitive economy in the world” by 2010, the EU presented its ways on Wednesday to catch up with the United States and not to be overtaken by China.

Less bureaucracy, more innovation, efficient capital market: The EU urgently wants to become more competitive - and Commission President von der Leyen has now presented a plan to make this happen. By Thomas Spickhofen.

MBB welcomes competitiveness compass, urges action

The Malta Business Bureau on Wednesday welcomed the European Commission’s competitiveness compass as a crucial initiative to tackle the EU’s long-term economic challenges.The commission hopes the compass will set a path for the bloc to become a place where future technologies, services, and so-called clean products (technologies that contribute to sustainability and care for the...

Von der Leyen cited the Budapest EU summit at the presentation of the "competitiveness compass" as an example of how united the member states are on the topic, but acknowledged that there will be differences in the details.