Reference News Network, February 3 report: According to the German news TV channel website, on February 2, due to global turbulence, German Chancellor Merkel urged Europeans to enhance their self-reliance.
Merkel said at the Deutsche Borse New Year's reception held in Eichborn near Frankfurt: "We are currently experiencing what may be the most politically turbulent and uncertain period in history, which is undoubtedly a major turning point with far-reaching consequences. This is a rupture of the era." She added that the current world is "reforming some great powers, which first do not want to abide by the rules, but instead promote power politics, somewhat even despising rule-based power politics." Merkel believes that taking measures in the fields of economic and financial policy is a specific step to enhance Europe's self-reliance.
Merkel emphasized: "If we Europeans unite and act decisively, we can make a difference in the world. We can achieve greater achievements than we have ever imagined." She said she saw a path towards a "sovereign, free, peaceful, economically prosperous Europe," and Germany will play a central role in it.
Merkel said Europe must rely on its own strength to gain defense capabilities, create more competitive locations for the European economy, and become technologically more independent. "The transatlantic relationship has changed," Merkel said, "but nostalgia or dwelling on the past is of no help to us. If we want to play a role in this global transformation phase, we must take immediate action now."
For Merkel, a specific step to enhance Europe's competitiveness is to establish a unified European capital market. She said Europeans must clear obstacles on the road ahead. She said: "Our ultimate goal is to ensure an open European capital market with the necessary financial market infrastructure." She also added that this is also a prerequisite for "seeing those promising, continuously developing young companies in Europe and Germany go public in the future, without having to repeatedly go to U.S. exchanges."
Merkel had called in October last year in the German Bundestag for better leveraging the power of the European single market to enhance Europe's competitiveness. At that time, she said: "We need to establish a 'European Stock Exchange' so that successful companies like BioNTech from Germany don't have to go to the New York Stock Exchange to list." This vaccine development company based in Mainz became well-known during the pandemic and was listed on the Nasdaq in the United States in 2019.
For years, the EU has been working to establish a unified capital market to eliminate bureaucratic barriers between member states. However, the implementation of this project is currently stalled.
At the EU special summit scheduled for February 12, Merkel plans to place the issue of Europe's economic competitiveness at the center. For the German chancellor, reducing bureaucracy in Europe is an urgent matter. (Translated by Nie Litao)
Original: toutiao.com/article/7602589616768418331/
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