Achieve a single energy market, telecos and banks and reduce bureaucracy with a unique license to operate throughout the EU, Letta’s recipes to compete with China and the US.
The Italian minister, Enricco Letta, explained at ABC’s house its recipes so that the European Union does not fall into insignificance on the world board and can compete with the United States and China. Some recipes, which although they were elaborated and … Presented before Donald Trump won the elections and became president of the United States, they are more current than ever. In fact, as recognized by the now dean of the School of Politics, Economics and Global Affairs of IE, the presidency of Donald Trump can be an accelerator of its implementation. And unlike what has happened on other occasions, the Letta report, and the Draghi report contributes to the European Commission a clear road map of what you should do to recover lost competitiveness and to boost its squalid economic growth.
Enrico Letta says that the EU what is done very well as far as monetary unit is concernedbut has parked the economic unit and there is the key. Without the need to change treaties, Europe can culminate the integration of telecommunications markets, banking and energy, To create non -national champions -As Pedro Sánchez wants in Spain-, but European champions capable of dealing with American and Asian competitors. And it also has clear recipes to reduce excessive bureaucracy: the first to make a state 28, virtual to give its own commercial law that is valid throughout Europe, and with which companies could operate in all states. The second would be end the directivesthat states have to transpose and turn national laws, which generates a huge bureaucracy because each country transposes it in a way and make Brussels approve regulations that will apply directly to all EU countries.
The road map is clear. The president of the commission, Ursula von der Leyen has included a good part of these recipes in her ‘competitiveness compass’ and now only need to be launched as quickly as possible.
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