We have provided fundamental guidance on three extremely important topics. We are perfectly clear on this, which is a testament to the quality of the decisions and steps forward that have been taken. First, we are taking a major step forward..towards harmonising .. bankruptcy frameworks
... First, we want to deepen the single market. We know that the single market is a fundamental asset for all of us, for our prosperity, for our future. We need to improve it and deepen it. This means that services should be included. The circular economy is a challenge and an opportunity for all of us. We need to develop the industrial strategy of the European Union, and for that we understand that the energy union is fundamental. We also understand that we need to mobilise more money, more tools to invest in strategic sectors.
During this meeting, we understood that it is important to scale up, to get bigger. It is also important to take care of our SMEs and make sure that we have the right mix, the right balance, because the role played by SMEs and access for SMEs to the single market is certainly a fundamental, strategic goal that all of us share. But the main topic, and I would like to insist on that, is investment, the investment strategy. ‘Savings and investment union’: these are the words used by Enrico Letta in his report. We had an in-depth discussion and we made fundamental decisions in that field. We made a huge step in the right direction. In the European Council, we intend to revert on a regular basis to this topic and we have provided fundamental orientations.
We have provided fundamental guidance on three extremely important topics. We are perfectly clear on this, which is a testament to the quality of the decisions and steps forward that have been taken.
First, we are taking a major step forward, with the European Council saying we must move towards harmonising relevant aspects of bankruptcy frameworks. This is a key point. We have been working in this area – with limited progress – for a very long time.
Second, targeted convergence in the business environment for our companies is crucial to fostering investment and access to capital – and to doing so across borders.
Third, another vital point you will see in the conclusions is European supervision. Supervision needs to be strengthened, obviously taking into account the characteristics of financial institutions, and the Commission has a threefold task of analysis, review and work in order to make very practical progress on this subject. You’ll notice that the paragraph on this topic is a key component, and is a real step forward.,,,
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