Estonian politicians believe that the competitiveness of the European Union (EU) can be significantly enhanced by focusing on reducing bureaucracy, investing boldly in the development of artificial intelligence (AI), and effectively managing energy prices. During a meeting in Belgium, EU leaders deliberated on how to bolster Europe’s competitive edge amidst challenges from other global economies. The discussions highlighted the necessity for tangible changes at the national level, specifically pointing out that many of the existing regulations under EU jurisdiction are overly stringent and hinder progress rather than promote it.

Finance Minister Jürgen Ligi emphasized that much of the EU's competitive power should be organized at the nation-state level, indicating that the current bureaucratic landscape is stifling productivity and innovation. He pointed out that Europe is falling behind primarily because of lower labor productivity, often attributed to fewer working hours compared to competitors like the United States. Ligi posed a challenging question about whether Europeans are willing to increase their working hours to catch up with their counterparts, reflecting on cultural attitudes towards work and productivity in different regions.

The urgent call to reduce bureaucracy underlines a growing recognition among EU member states that systemic changes are necessary to revitalize Europe’s economic situation. Additionally, the emphasis on investing in AI development suggests a strategic pivot towards technological advancement as a crucial factor for boosting competitiveness. As these discussions progress, it becomes increasingly evident that the decisions made will significantly shape the future of the European economy and its standing in the global market.