On 8 November 2024, the informal European Council in Budapest adopted the so-called Budapest Declaration, a political declaration of intent to strengthen Europe's competitiveness. It focuses on innovation, productivity and economic growth. Other strategic goals such as energy sovereignty, climate neutrality, the circular economy and the social agenda are also addressed. The Budapest declaration ties in with the European Council’s Strategic Agenda and refers to the Draghi and Letta reports. 

Every year, public authorities spend large sums of money on publich procurement such as construction and service contracts. Hence, there is considerable potential in the design of public procurement to positively influence the market by setting qualitative criteria. The new EU Commission has announced that it will revise the Public Procurement Directive. From AK’s point of view, it is vital that the focus will be placed on social and environmental criteria at last.

Europe faces enormous investment needs to meet major challenges such as tackling the climate crisis and – as constantly called for – to achieve competitiveness. While private capital is often highlighted as a key player, questions remain as to what role the Capital Markets Union can realistically play in this context. How can we mobilise sufficient public investment to cover the cost of climate change mitigation and adaptation?

A new study commissioned by the Austrian Chamber of Labour in Vienna and AK EUROPA shows who benefits from the ‘Better Regulation’ agenda. In the early 1990s, the initiative had positive objectives: complex, technical texts were to be simplified and made easier to read. Over the years, however, this initiative has increasingly become a deregulation agenda that benefits companies but endangers social standards.

While the focus at the beginning of the new EU legislative period is on competitiveness, the single market and defence, AK EUROPA is presenting a List of Demands for a bright future for the EU from the perspective of employees and consumers. Their interests must not be neglected, especially in view of the immense challenges currently facing the EU, and social balance must be at the heart of EU policy. The catalogue of 35 demands contains numerous specific policy recommendations.

The Capital Markets Union has been on the Brussels agenda for many years. It is once again very present in the current discussions under the new name of “Savings and Investments Union”. Which steps have been taken so far and what is still to come? What are the risks associated with the Capital Markets Union and what is standing in the way of its completion? We spoke to Thierry Philipponnat, chief economist at the Brussels-based think tank Finance Watch.

The ECJ ruling from 10 September 2024 on Ireland's tax breaks for Apple ends years of litigation between Apple, Ireland and the EU Commission. This has resulted in a significant win for EU citizens and in terms of tax justice in Europe. Apple must pay back tax totalling 13 billion euros to Ireland. What does the ruling mean for the future of tax justice in Europe?

Driven by massive farmers' protests, EU Commission President Ursula von der Leyen intensified the strategic dialogue on the future of EU agriculture announced in her 2023 State of the Union address. In January 2024, 29 organisations were invited to develop perspectives for European agriculture. The final report is now available.

After several delays, it is now here: the Draghi report. On Monday, 9 September 2024, former ECB head Mario Draghi presented EU Commission President Ursula von der Leyen with his report on the future of Europe. He proposes nothing less than a reorientation of Europe's economic policy. He sees an existential situation and fears a slow decline of the continent if things continue as they are. There is something to be said for some of these proposals, especially with regard to a massive increase in investment.

In the Draghi Report and in the political guidelines of EU Commission President Ursula von der Leyen, far-reaching efforts to streamline EU regulations and reduce the burden on companies can be found under the headings “Better Regulation” and “Reducing administrative burdens”. However, there is a risk of losing sight of important regulations for employees and environmental protection. AK EUROPA and the ÖGB Europe Office organised a webinar on this topic on 10 September 2024.