President Barroso: "An EU strategy for industrial competitiveness”
Speaking at the eleventh European Business Summit in Brussels today, President Barroso debated the European Commission's response to the uncertainty that marks business and industry in Europe today.
"Our policy response is clear: we address in a comprehensive manner the different challenges, challenges of fiscal consolidation. We continue the structural reforms for competitiveness and also we promote the investments that give hope to the real economy. And of course we pursue an active agenda linking Europe even closer to the international economy", he said.
President Barroso stressed that by fighting unsustainable public debt, by creating an integrated system of banking supervision and resolution and by pushing Europe's competitiveness agenda, the European economy can be rebalanced.
However, the President also pointed out that specific policies and investments in areas that provide a support to the real economy are needed. He mentioned investments in research and innovation and pan-European networks like the Connecting Europe Facility as important topics on the Commission's agenda.
As a third important commitment of the Commission, President Barroso highlighted international trade policy.
"At a time when some countries are flirting with protectionism, Europe has resolutely chosen to move further on the way to trade openness, without of course being naïve, and this also means that we also need to protect our industry when others do not play by the rules of the game", he said.