- Josep Sánchez Llibre sees a strong internal market in the EU as “essential” and calls for “greater fiscal harmonization”
- Enrico Letta calls for European integration to be completed in the next five years
During the economic conference ‘Reforming the Internal Market for a More Competitive Europe‘ hosted by Foment del Treball, discussions were held on financial, energy, and telecommunications regulation, as well as trade and industry. The event, presented by the president of the European Leadership Academy, Josep Antoni Duran i Lleida, concluded with a panel featuring the president of Foment, Josep Sánchez Llibre, former Vice President of the European Commission, Joaquín Almunia, president of Banco Sabadell, Josep Oliu, and former Prime Minister of Italy, Enrico Letta. Letta is currently preparing a report on the state of the European single market and is interviewing various business and economic leaders across the EU.
The president of Foment del Treball, Josep Sánchez Llibre, highlighted the “need for European regulations in areas such as finance, telecommunications, and energy.” In this regard, President Sánchez Llibre emphasized the importance of “aligning the energy transition with the industrial energy transition to avoid hindering competitiveness.” He also warned that “it is crucial to assess the impact of new regulations on economic activity,” adding that it is “essential” to have a strong internal market in the EU, as well as greater “fiscal harmonization.”
Enrico Letta called for European integration to be completed “within the next five years,” considering it an urgent matter. Additionally, Letta warned that Europe will not succeed in competing with “Chinese, Indian, and American” entities if it is not united, and stressed that there must be at least one European at the global table, regardless of nationality. In this context, the former Italian Prime Minister also warned about the increasing fragmentation due to “national decisions to promote subsidies and state aid.”
The former Vice President of the European Commission, Joaquín Almunia, cautioned that “we have many things to do and we don’t have 30 years,” referring to the time since the integration process began in 1993. He noted that in the coming years, massive resources will need to be allocated to the energy transition, the reconstruction of Ukraine, defense, and industrial policy, among others. He predicted that the EU will grow from 27 to 36 members. Integration needs to be accelerated in banking, capital markets, telecommunications, and energy, Almunia concluded.
The president of Banco Sabadell, Josep Oliu, suggested that “when supervising and regulating the European financial system, rules should favor banks’ ability to meet all the financing needs of the European economy and support businesses requiring our assistance.”
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