The President of the European Council, Antonio Costa, and Austrian Chancellor Christian Stocker, on Wednesday, emphasized the importance of strengthening the competitiveness of the European Union (EU), and Vienna called for a fairer distribution of the economic burden among the member states.
At a joint press conference in Vienna, Costa said that the EU’s “main priority” is increasing competitiveness through a stronger single market, trade, and innovation. Removing barriers within the internal market, he added, would help in curbing inflation across the bloc.
He welcomed the European Commission’s approval of the revised Mercosur trade agreement, calling it “an excellent opportunity to open our markets to new products and services and improve competitiveness.”
Chancellor Stocker emphasized that competitiveness is “the foundation for everything else,” including security and climate action, but underlined that the costs of maintaining Europe’s strength must be shared evenly.
“What we need is a fair and efficient distribution of the burden among the member states. It is very important that not only a few member states carry the most important burden,” Stocker emphasized.
He also warned that, although the EU requires a strong budget to face future challenges, national finances are under pressure.
“Even the most ambitious budget of all time, which includes approximately 2 trillion euros, will have to be reconsidered. We must spend money efficiently. Therefore, national budget consolidations will have to be reflected at the EU level, otherwise the member states will have a problem fulfilling their payments,” he added.
Stocker confirmed Austria’s strong support for EU enlargement, especially to the Western Balkans, describing it as crucial for regional security and stability.
