In the recent special edition entitled “European elections 2024 – The world is changing. Can Europe?’The BSE explains how geopolitical challenges, bureaucracy and over-regulation are major factors limiting its growth.

In addition, he emphasizes that the lack of a coherent industrial policy and the reduction of added value in cutting-edge technologies contribute to stagnation and therefore need to be reversed.

It is time for action so that the EU to be able to meet the challenges of the 21st century and ensure its long-term prosperity. The EU economy, once stronger than that of the United States, is now lagging behind. This competitiveness deficit weighs on investment and limits economic growth. If these challenges are not addressed, Europe risks falling behind other faster growing economies.

A globally competitive Europe will offer more opportunities, better jobs and a higher standard of living, and will continue to be a benchmark in terms of quality of life and social well-being.

Recent institutional initiatives such as the Green Deal Industrial Plan, the Net Zero Industry Act, the Critical Raw Materials Act, the AI ​​Act and other strategies are important steps but concrete and workable solutions are also needed for the EU to move forward sustainably and resiliently.

BSE argues that to regain its strength, the EU needs a series of strategic changes. These changes should focus on five key areas:

1. Improving the Single Market: Reducing regulation, enabling rapid adaptation, and improving infrastructure are key to the free and efficient functioning of markets in all Member States.

2. Extensive bureaucracy and red tape is not exclusively a national issue: Reducing bureaucracy will encourage small and medium-sized enterprises to invest and grow. BSE talks about the need for a “regulatory simplification shock”.

3. Re-industrialization: Supporting industry with more investment and innovation will create new jobs, but at the same time a realistic and efficient energy strategy must be developed.

4. Resilient and Flexible Labor Market: Adapting the skills of workers to new technological and economic conditions is critical not only for the flexibility and resilience of the labor market but also for filling job vacancies.

5. Sustainable Development and Circular Economy: Sustainable entrepreneurship must become a central pillar of economic strategy, ensuring environmental protection, access to critical raw materials and the well-being of future generations.

These issues concerning the competitiveness of the EU will be discussed in depth, on Thursday, May 23between Mr. Dimitris Papalexopoulou Chairman of the Board of Directors of SEV, Mr. Evangelos Mytilinaios Vice President of SEV, and Mr. Alexis PapahelaDirector of Kathimerini newspaper.

It is worth noting that this discussion is expected to have a strong European flavor, as both businessmen participate in the capacities they hold in important pan-European organizations. Specifically, Mr. Evangelos Mytilineos participates as President of the pan-European association Eurometaux, while Mr. Dimitris Papalexopoulos participates as Vice-President of the European Round Table for Industry (ERT).

The par excellence “European” debate is of particular importance for our country as the 21 Greek MEPs, together with 699 from the other countries will take responsibility for the direction for the future of the EU.