The effort to recover the European single market and the economy more broadly should be based on three pillars, with the aim of Europe as a whole regaining its position as a global economic leader through vision, focus and determination.

In his intervention, in the context of the Tripartite Social Summit taking place in Brussels, the president of OEB, Giorgos Pantelidis , focused on the need for Europe to regain its position on the global stage, which, however, implies certain actions and conditions. Characteristically, Mr. Pantelidis noted that we need to build an ecosystem where businesses grow, industries evolve and people acquire skills that turn ideas into meaningful solutions.

The three objectives

More specifically, speaking at the Summit on “A Stronger Union – Economic and Political”, Mr. Pantelidis pointed out, among other things: The single market is one of Europe’s greatest achievements. Nevertheless, obstacles still limit its potential. To ensure Europe’s competitiveness and prosperity, we need to make it more efficient, faster and fairer for all. First objective: Regulatory efficiency. The rules must be clear, consistent and growth-oriented. Bureaucracy must never hinder innovation or investment, and any regulation must serve a real purpose, enhancing competitiveness. Simplifying procedures will allow businesses to grow across national borders and increase Europe’s flexibility in the global market. Second objective: to strengthen trade and investment. Europe needs to pursue fair, ambitious trade agreements and renew its taxation and investment tools to attract sustainable growth. Third objective: Targeted investments in the sectors with the highest added value: New technologies, clean energy, digital infrastructure and advanced manufacturing.

Strategic investment in these areas will unlock the full potential of the Single Market and strengthen Europe’s role as a global leader in innovation and entrepreneurship.

Our competitors are moving forward

According to the president of OEB, supporting research and innovation is a critical factor. Our competitors, he underlined, in Asia and North America are investing dynamically in new technologies, artificial intelligence, clean energy, biotechnology and advanced industrial production. Europe needs to respond, through strong partnerships between industry, academia and start-ups, by turning research into tangible results. To add that regaining global leadership is an achievable goal, as long as we act collectively. “With unity and determination, Europe can once again lead the way in science, technology and sustainable industry, setting the standards for the global economy of tomorrow.”

The conditions for success

In conclusion, Mr. Pantelidis set certain conditions in order to achieve the goals that will be set. In particular: (a) High energy costs continue to threaten our industry and limit growth. We must therefore secure Europe’s energy future and strengthen its industrial base. (b) The Green Transition must combine ambition with realism. Protecting the planet and strengthening competitiveness can and must go hand in hand. The Green Agenda must act as a driver of innovation, investment and quality jobs, turning sustainability into Europe’s new great opportunity. (c) A comprehensive Resilience Plan is necessary to strengthen our capacity to respond to security threats, humanitarian crises and economic turbulence. (d) Europe must invest in its people and strengthen its collective security. Reskilling and upskilling is critical to equipping the workforce with the skills of the future, so that no one is left behind in this transition.