Speaking at the Leaders’ retreat on competitiveness, President Metsola said that there was “a narrow window of opportunity” to do the necessary to push Europe forward.
Dear colleagues, We have a narrow window of opportunity. This is one of those moments that people will look back to and say we did what was necessary to push Europe forward. What the pandemic did for our response to health, and Ukraine did for our response to defence - now is the time to do for European competitiveness. I have four points to make today. One: completing the Single Market. We know we need to do this. Every non-paper, interview and speech has said the same things in different ways. Fragmentation means we are allowing ourselves to be squeezed from our East and our West. And at the speed with which things are moving, we need to act - now. The 28th regime is necessary, and it is doable. But small steps won’t cut it where we need giant leaps. We need more than a piecemeal quick-fix adjustment, and this can make a real difference. We now need to complete the Savings and Investments Union by the end of the year. That’s the message our industries need, and the message Europe must send to the world. The Parliament also understands the urgency to move, and so, here too, if we can go forward together let’s do it, but let us insist on the need for pragmatic realism that ensures we do not get stuck. Point Two: Simplification. Parliament has done a lot in the last year. We’ve eased requirements in the Carbon Border Adjustment Mechanism, reduced red-tape in the Common Agricultural Policy and in InvestEU. We’ve narrowed the scope of the CSRD and CSDDD. Meaning Omnibuses one, two and three on sustainability, investments and agriculture are done. On the fourth Omnibus, we’ve stopped the clock on batteries, and on mid-caps we will vote on our position this month. On the fifth Omnibus on Defence, we’re in trilogues. And we hope to be able to reach a deal soon. On the sixth Omnibus on chemicals, we’ve moved forward with urgent procedures, and we close to finalising. One file remains. At the end of 2025, we received the Commission proposals to revise rules on digital, environmental, automotive and food sectors - Omnibuses seven through ten. Work in committees is ongoing. And ultimately, good intentions must also translate into urgent tangible outcomes for businesses and families. Every Eurobarometer shows that affordability and cost of living remain the number one concern of people everywhere. This must be Europe's response. We all are determined to deliver. And now we also need to see the examples of national rules that stunt growth, the gold-plating often referred to. Simplification is just the first part of increasing our competitiveness. This must be reinforced with both public and private funding. So my third point is: Investment Our task is to find ways to inject more capital into high potential sectors without causing instability and weighing down our budgets. Tapping into the private funding available across our Union is one sure way of doing it. Europe does not suffer from a lack of savings. It suffers from a lack of turning those savings into investment. This is where building the Savings and Investments Union comes in. Parliament is already working on some important proposals, including Securitisation and the Digital Euro. We’ve also started our work on the Market Integration Package, and we will have our position negotiated this spring. The EU Stock Exchange is another interesting idea. It could provide liquidity, funding, lower costs and help our companies hedge against risks. I am aware it has its contention points, but there is no denying that it would become one of the strongest enablers of growth. Are we ready for it? My view is that we must be. That would help our companies scale and create the Global European champions we need. And we cannot do that unless we invest in energy. Electricity demand is on course to grow at least two and half times faster than the overall energy demand through 2030. Some estimates predict we will need over 3 trillion Euros of investment in electricity generation till 2035 to meet the needs of Artificial Intelligence and electrification. That is why we must continue investing in grids and generation capacity to build a genuine Energy Union - one that guarantees stable supply for our industries, at affordable prices for our people. As we enter the Age of Electricity - investment in energy supply and delivery is crucial. Energy is the new gold and the global rush for it is the same. Fourth on trade: If ever there was a stronger impetus to pursue an ambitious free trade agenda with partners and allies around the world - to secure critical raw materials, diversify supply chains, create new jobs and support growth - this is it. I welcome the recent trade agreement with India. That was exactly the right message, the right tone, and the right deal. It showed what Europe can achieve and gave us momentum to move forward other trade deals around the world. We know that strategic autonomy is not about isolation - it is about influence. I’m not suggesting we don’t strengthen our production base - Parliament and I have been very adamant about the need for re-industrialisation. Nor am I dismissing the discussion on European preference in certain strategic areas - it has its place. Where possible we should buy European. But where not, we shouldn’t sacrifice our industries that depend on external resources under the illusion of self-reliance. Openness must remain at the core of our European model. In this spirit: Parliament cleared the agricultural safeguards for the EU-Mercosur agreement earlier this week. Now we are finalising our work on the EU-US trade agreement. The vote in committee will take place on the 24th, then we’ll go to plenary in March.
We recognise the urgency to get this trade deal done - just as we recognise the need for it to be grounded in mutual trust, understanding and respect. Open, but never naive. Finally, I know that today is meant to be an informal discussion, and that decisions will be taken in March, but I want to conclude by making the case for clear timelines and concrete outcomes in our work going forward. Last December, the Commission, Parliament and Council agreed on ten legislative files - on Simplification, Grids, Capital Markets, Housing, Migration, Defence - to prioritise and adopt in 2026. This has never happened before. I’m reemphasising this because I want you to rest assured that Parliament remains committed to that timeline. As diverse as this Parliament is, we have, we can, and we will continue to deliver. And this is largely down to the good and close inter-institutional cooperation. Now we also have the Joint Road Map on the Single Market - the fact that we can discuss challenges openly and find solutions together is not something we should take for granted. Thank you.