The shadow of global conflicts over the European economic meeting

According to the report of the international group Tasnim news agency, newspaper ” Tagus Shaw wrote in an article: In today’s meeting of the European Union, the latest developments in the critical regions of the world will be discussed again. The main focus in Brussels, of course, should be on economic policy and the issue of European competitiveness. EU member states have guaranteed. This is considered one of the greatest achievements of the European Union.

For the situation to remain as it is, a lot has to change: the corona pandemic has shown that supply chains How vulnerable are they in Europe? Russia’s war in Ukraine made the European Union aware of its dependence on foreign energy sources. On the other hand, China, a competitor of the European system, distorts competition with huge subsidies. From the perspective of the European Union, even Brussels’ partner, the United States, discriminates against European companies in the competition for green technologies with its financing program.

In short, the European Union finds itself under pressure from partners and competitors or even lagging behind them when it comes to growth, productivity and innovation.

For this reason is that this organization wants to make the domestic market anti-crisis and forward-looking through a new agreement on competition. To do this, member states need to remove barriers and better enforce existing regulations. This should help provide easier services across EU borders and allow capital to work.

However, in recent years, member states have always been willing to have not reduced legal and bureaucratic barriers for service providers and employees of partner countries. Former Italian Prime Minister Enrico Letta worked for months on a report on this matter and is now presenting it to heads of state and government. It costs euros per year. In addition, EU governments want to arm themselves extensively in view of the Russian threat. But the member states cannot make the necessary investments in this direction alone.

Europeans want to coordinate the capital market to collect additional private funds. It means aligning the national regulations. This applies to stock exchange and bankruptcy law as well as corporate tax and dividends. Experts have been working on this issue for years without any tangible progress. This is exactly what the European Union summit called for at the end of March, and EU members are discussing it this time as well.

Olaf Schultz, Chancellor Germany calls the capital markets union “an essential source for future growth.” He proposes reforms to bankruptcy and corporate tax laws. Schulz complains that money flows from Europe to US capital centers before being reinvested in European startups.

Several member states They also want to create a European market for securities to free up capital.

Of course, since last weekend, this economic summit has found a new topic and that is the escalation of conflicts between Iran and the regime. It is Zionism that has created the concern that the war in the Middle East may turn into a conflagration. This issue will probably determine the final statement of the summit.

The shadow of the war in Ukraine will also be over this summit. Moscow is using drones in its war against Ukraine. The situation in this region is also worrying from the perspective of the West and will be discussed in this summit. Ukrainian President Volodymyr Zelensky expects the Russian military to launch offensive operations at the end of May or early June.

He urgently asked the European Union and the United States It has more military assistance – especially in the form of Patriot anti-aircraft systems, additional artillery and ammunition. This measure could be partially paid for by interest income from frozen Russian assets in the EU. According to an EU diplomat, the first income from these frozen assets may flow as early as June. The leaders also want to address suspicions that Moscow bribed MEPs. De Croo explained that Belgium, as the seat of EU institutions, has the responsibility to protect the right of every citizen to vote freely and safely, in view of the European elections in June.