EU summit – Charles Michel: the internal market must be deepened

By: Trademagazin Date: 2024. 11. 08. 11:18

We must deepen the internal market of the European Union, companies must be helped with capital in investments and innovation, said Charles Michel, President of the European Council, on Friday after the informal meeting of EU heads of state and government in Budapest.

Strengthening competitiveness was the main topic at the meeting, which is an absolute priority. We all saw the need for unity, spontaneity, and joint efforts. We also need to understand those who disagree with us. We had a discussion with Mario Draghi, who prepared a report on the future of competitiveness, and Christine Lagarde, President of the European Central Bank. The Budapest Declaration states that the debate on financial instruments will be the task of the new institutional cycle”

Charles Michel stated.

According to his formulation, the use of the European Investment Bank can be a powerful tool for this.

Charles Michel said that the two events in Budapest, Thursday’s meeting of the European Political Community and Friday’s informal EU summit, both had the capacity to listen to each other and act for a stronger, more resilient and more sovereign Europe.

He emphasized the need to strengthen transatlantic relations. He added that he spoke with President-elect Donald Trump on Thursday evening and congratulated him.

“We want to strengthen trade relations and the economic base. Dealing with security and geopolitical challenges, the Russian-Ukrainian war, and the conflict in the Middle East requires more dialogue and effort to protect our common interests.
I am convinced that supporting Ukraine also means protecting our values, and it is a signal to the world that we must protect the basic principles of the international legal order, sovereignty and integrity. It is also important that we have to work together with all our global partners in the field of climate crisis and digital issues”

– listed Charles Michel.