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Europe at a crossroads: is Letta’s way the right way?

Europe is at a turning point. How we organize competition and our internal market will define the future of the European Union and its citizens. The next five years will see some critical strategic decisions on economic policy - but what will it mean for consumers?

Thu | Jul 11 |

15:00

CET

Thu July 11 2024 15:00:00 GMT+0200

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About this webinar

Europe is at a turning point. How we organize competition and the internal market will shape the EU's future. The next five years will bring critical economic policy decisions – but what will they mean for consumers? Huge investments are needed for the EU's green transition, defense, and infrastructure, yet the eurozone is barely growing. With consumer budgets stretched thin, affordable goods and services are crucial. Europe is also shielding itself from perceived unfair competition, like tariffs on Chinese EVs and solar panels, while the US prioritizes its own economy with the Inflation Reduction Act. These actions challenge the global trade that has long benefited Europe. There is a risk that Europe’s push for fair competition could turn into protectionism or corporate favoritism – a thin line to walk. Enter Enrico Letta, former Prime Minister of Italy who is one of many concerned that the EU internal market needs to change so it can strengthen its position on the global stage and in the global marketplace. His report ‘Much more than a market’ looks at what is needed for the next iteration of the single market project to return to the growth, innovation and solidarity which first defined it. Letta’s report will soon be joined by Marco Draghi’s recommendations for increasing European competitiveness, written at the request of the European Commission. As these two reports will undoubtedly influence the next legislature of the European Union, it’s time to take a deep dive into what’s being proposed and ask what they mean for consumers.

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Marco Pierani

Director Public Affairs Euroconsumers

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Kim Watts

Senior Policy Manager, American Chamber of Commerce to the EU (AmCham)

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Stefano da Empoli

President, I-Com, the Institute for Competitiveness

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Erik Berggren

Senior Adviser, Legal and Economics Department, BusinessEurope

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Top questions:

01

s Europe in danger of stagnating like Japan, standing by as economic powerhouses like the US and China cement their lead?

02

What is the scale of the investment challenge needed to succeed?

03

What is the scale of the investment challenge needed to succeed?

04

Will increasing competitiveness mean bigger companies dominating the single market?

05

Do all companies/sectors need saving?

06

Is more or less intervention the key to growth?

07

Is ‘innovation’ just ‘deregulation’ in disguise?

08

Where will this leave consumers and consumer protection?

09

What role is left for consumers in our internal and global market?

010

How could the EU be more strategic in the use of its single market tools?

011

Where do we see the EU and its internal market in 20 years?