During a recent informal summit of EU leaders in Brussels, Lithuanian President Gitanas Nausėda articulated the urgent need for the European Union to act swiftly and strategically to remain competitive in the global market. He highlighted significant challenges such as high electricity prices, expensive borrowing for businesses, and barriers to innovation as critical areas that require immediate attention. Nausėda's remarks suggest that these issues not only affect manufacturing but also have broader implications for the service sector, emphasizing the need for comprehensive solutions to ensure economic resilience.

Nausėda called for an acceleration of decision-making processes within the EU, transitioning from mere declarations of intent to actionable measures that would enhance economic potential and global competitiveness. The President noted that current conditions, including relatively high electricity costs and limited access to affordable capital, pose significant hurdles for both product manufacturers and service providers, necessitating prompt intervention.

The discussions at the summit revolve around removing obstacles to competitiveness, strengthening the common market amidst shifting geo-economic realities, and deepening the internal market of the EU. Nausėda's emphasis on practical actions indicates a shift in strategy that could reshape policy responses across member states, reinforcing a collaborative effort to tackle the economic challenges posed by the ever-evolving global landscape, ultimately aiming to foster a more robust European economy.