A United, Open and Stronger Europe

A united, open and stronger Europe José Manuel Barroso is President of the European Commission “When you find yourself in a storm, the only way out is to stay true to your course. The one thing you don’t do is change direction.” (Jean Monnet) urope has witnessed an unprecedented period of that many of Europe’s member states were living beyond their change in the five years since this European Commission means and lacked competitiveness. And whilst our economies took office. The financial crisis evolved into a sovereign were deeply interdependent, we lacked the strong governance debt crisis, an economic crisis and a social crisis, tearing framework to prevent unsound policies or to handle the crisis Edown barriers between European and national politics. when it hit. Over the past 5 years, the Commission has been a driving force behind the initiatives to put this right. In this time of change, business as usual was no longer an option. If the five years before the start of this Commission were Today, Europe is protecting citizens and taxpayers through defined by constitutional issues that were formally settled by necessary stronger regulation that guarantees savings, makes the introduction of the Lisbon Treaty, then these 5 years have banks more responsible and limits bankers’ risk-taking. We been shaped by the threat of the financial and sovereign debt brought fairness back into the system. And we have taken the crisis. In the face of these challenges, we can all be extremely decisive step – unthinkable before the crisis – to create a Banking proud that we have kept Europe united, open and made it Union. As a result, the financial sector is now more regulated; stronger for the future. and financial regulators are now better equipped to supervise our banks; to deal with difficult economic developments; and to ‘United’, because we managed to keep Europe together and even protect your savings. enlarge it despite the pressures exerted on our countries; ‘open’, because we engaged with our international partners through We have put in place a system of collective economic and the G20 to define a global response, we kept promoting trade budgetary governance at EU level that ensures that all within the European Union and across the world as a means of governments put and keep their public finances in order and growth, and we maintained our commitments to developing that the necessary reforms are undertaken to make and keep countries; ‘stronger’, because the necessary economic reforms our economies competitive. We have come together to create are now being implemented across Europe and our economic a mechanism that provides loans to those countries that are governance has been reinforced, in particular in the Euro area, under most pressure from the markets. The euro has come out to make Europe’s economies fitter for globalisation. of this crisis even stronger, gaining rather than losing members. We have used all the means at our disposal to keep people in In doing so, we have built on what is unique about the European jobs and help those out of work to get back into the labour Union. Europe is about values. Values like peace, our founding market, giving special attention to the acute problem of youth principle, for which we were awarded the 2012 Nobel Peace unemployment. Prize. Values like unity and diversity, a source of strength to be treasured. Values like solidarity, with our social market economy We have agreed a new EU budget which focuses on investments and our protection of Europeans less fortunate. These values that help member states, regions, companies and people. And have guided our work. The EU is more than an economic project. to boost growth and create jobs further, we have opened up It is a political one. It is a community of culture and of shared new markets across our continent by further developing the values and interests essential to forge a common destiny. Single Market and defending its four freedoms, and across the world by pursuing ambitious global trade deals. Responding to the economic crisis and preparing the conditions for sustainable growth and jobs Beyond the immediate crisis management, we have developed The European Commission has worked tirelessly to avoid a a long term plan to modernise Europe’s economies. Our Europe collapse of Europe’s economies. The lack of regulation and 2020 strategy sets realistic but ambitious targets to return oversight of the financial markets allowed speculation and Europe to smart, sustainable and inclusive growth. The new credit bubbles to emerge. The subsequent aftershock revealed EU budget seeks to enhance competitiveness through greater 64 World Commerce Review ■ June 2014 focus on research, innovation and infrastructure, with special “The EU is more than an economic project. It attention given to connect Europe in transport, energy and digital sectors. We have built on the climate and energy goals is a political one. It is a community of culture for 2020 which were agreed under the previous Commission to and of shared values and interests essential set out a framework for 2030. Competitiveness, sustainability and security of supply are at the core of our climate and energy to forge a common destiny” policies. On top of that, in our Blueprint, we have set out a clear vision on how to complete the Economic and Monetary Union. Jean Monnet said: “I have always thought that Europe would be principles are respected and that people’s freedoms and rights forged in crisis.” We have proven him right and the doubters are fully upheld. And we will continue to do so in a more wrong. We have shown what can be achieved when EU systematic and robust way through the Rule of Law initiative Institutions and member states work together. we have proposed. Working for Europe’s citizens Addressing the real issues that matter to people requires the While the economic and financial crisis has been the main European institutions to focus on the areas where it can provide challenge over the last five years, we have not lost sight of the most value. European cooperation is crucial in many areas but need to address the other concerns of Europe’s citizens. it is not necessary in every area. This Commission has proposed legislation where intervention was required but has also cut red The Commission has taken a series of initiatives to guarantee tape to an unprecedented degree, saving European businesses free movement of people, goods, services and capital; to ensure more than €32 billion a year. We have repealed 6,000 EU laws choice and fair competition for consumers and companies; and since 2005. Europe must be big on the big things and small on to increase investment in infrastructure. Thanks to the single the smaller things. market, we have been able to bring down roaming charges even further; to bring fairer prices and rights for travellers and Tackling the key issues of concern to Europe’s citizens requires a consumers; to agree - after over thirty years of negotiation - the joined up approach between the different European institutions. European patent, which introduces savings in cost and time for The European Commission is the only institution involved in researchers and businesses; and to improve the visibility of job each step of the decision-making process. At the same time, opportunities across the EU to let you find jobs in other member nothing can be achieved without the full engagement of the states more easily. two sides of the legislative process, because it is the ministers from national governments and the MEPs who you elect, who It is now more important than ever that the fundamental together decide on legislation. This Commission has fully values on which the Union is built, such as the rule of law, are invested in making that cooperation work. The democratic respected. The Commission has intervened with a number of process has been enhanced. Each institution has played its role member states in recent years to ensure that these fundamental in helping Europe emerge stronger from the crisis. © European Union, 2014 José Manuel Barroso, President of the European Commission, Herman van Rompuy, President of the European Council, and Martin Schulz, President of the European Parliament, participated in the award ceremony of the 2012 Nobel Peace Prize to the EU World Commerce Review ■ June 2014 65 © European Union, 2014 Responding to the global financial crisis at the G8 at Camp David in 2012, round table: Angela Merkel, Herman van Rompuy, José Manuel Barroso, Yoshihiko Noda, Mario Monti, Stephen Harper, François Hollande, Barack Obama, David Cameron, from behind, and Dmitry Medvedev (in a clockwise direction) Giving Europe a say on the world stage In an increasingly globalised world, size matters. The economic or 28 members and an enlarged European Union would not be crisis, global climate change negotiations, concerns over energy able to work and take decisions properly. We have proven those security, migration, the Arab Spring and most recently Ukraine predictions wrong. Courageous decisions have been made have all shown that the EU is only effective if we act together. together – united – pointing to a real communauté de destin in Europe. As the shared challenge of globalisation brings us The economic crisis has put the spotlight on Europe but it has closer together and common values bind us ever more tightly, also demonstrated Europe’s ability to exert influence on the there is a growing realisation that we need to find stronger international stage. The European Union has set the global solutions agreed by all of us. The last five years have shown that standard in many areas, and we have played a leading role in we are up to that challenge: Europe can work well at 28, and global fora such as the G8/G7, G20, the WTO and the UN.

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