Commission presents its vision for an open, strong, and resilient economic and financial system

What? The European Commission presented a new strategy aimed at enabling Europe to play a leading role in global economic governance, while at the same time protecting the EU from unfair and abusive practices.

When? The communication was presented on 19 January 2021.

Why? There has been a shift in recent years in the geopolitical landscape. The global economy is increasingly multipolar, and short-term pursuits of unilateral interests can threaten to undermine multilateral cooperation. And more recently, the coronavirus crisis has further highlighted the need to bolster the EU’s economic and financial system. Going forward, the EU needs to cement its international standing and ensure its economy and financial market continues to be attractive to international investors. The proposed approach aims to do this by:

• Boosting the international role of the euro;

• Further strengthening the EU’s financial system and infrastructure;

• Enforcing and uniformly applying EU sanctions.

Want to know more? Read the communication