Ursula von der Leyen, President of the European Commission, emphasized the need for a new era of EU integration during her speech at the World Economic Forum. She highlighted that Europe's past reliance on global trade and Russian energy is no longer sufficient as geopolitical tensions rise. Von der Leyen called for a collaborative effort to prevent a global downturn, citing upcoming proposals to enhance capital market efficiency, eliminate barriers within the single market, and establish an energy union to reduce dependence on Russian gas.
The cooperative world order we imagined 25 years ago has not turned into reality. Instead we have entered a new era of harsh geostrategic competition.
We will need to work together to avoid a global race to the bottom.
We do not lack capital. We lack an efficient capital market that turns savings into investments, particularly for early-stage enterprises.
Von der Leyen called for a deeper integration of capital markets and a new energy union to permanently end reliance on Russian gas.
#eu-integration #global-economy #ursula-von-der-leyen #world-economic-forum #geopolitical-competition
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