In a recent address to the European Parliament, Ursula von der Leyen emphasized the urgent need for Europe to remove internal barriers to enhance its competitiveness on the global stage. She highlighted that failure to do so would hinder Europe’s aspiration of becoming a true global giant. A significant point of concern she raised was the excessive fragmentation within the European financial sector, which poses a threat to economic activities within the EU.

Von der Leyen called for a quicker completion of the single European market, advocating for the removal of each barrier that hampers economic growth in the region. She pointed out that businesses in Europe are in dire need of capital and urged EU lawmakers to finalize trade agreements and simplify regulatory rules. This, she believes, is essential to unlock the developmental potential of the European economy, which is crucial in the context of global economic competitiveness.

As Europe prepares for an informal summit, von der Leyen's remarks underscore the importance of unity and coherence within the EU to face international challenges. The push for a comprehensive approach towards regulatory reforms and market integration reflects a strategic intention to streamline the economic landscape in Europe, making it more conducive for businesses to flourish and compete on a worldwide scale.