Rabobank’s Bas van Geffen discusses how EU leaders are increasingly considering a multispeed European Union to address structural reforms and competitiveness. The informal summit produced no decisions, but Von der Leyen’s planned “One Europe, One Market” roadmap and potential use of enhanced cooperation signal a willingness to move ahead without full unanimity, especially on corporate legislation and savings and investment initiatives.
EU weighs enhanced cooperation tools
“However, President of the European Commission Von der Leyen promised to present a “One Europe, One Market” roadmap at the next formal summit, in March.”
“Both Von der Leyen and European Council President Costa expressed their preference to move forward with all 27 EU member states.”
“In particular, Von der Leyen believes that this may be required for the adoption of the 28th regime, a harmonized set of corporate legislation across the bloc to make it easier to scale up across borders – although the fact that this will coexist next to national law (its not the “One Regime”) may add some complexity as companies have to choose between the two regimes.”
“Von der Leyen has said that if no progress is made on the Savings and Investment Union this year, she will push ahead with a smaller group of countries.”
“In any case, whether Eurobonds make the list or not, it is clear that in an attempt to strengthen the Union, the EU is now willing to move less in unison.”
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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