The EU’s push to reinvigorate its stuttering economy must be conducted with the same urgency as the rush to increase military spending, Ursula von der Leyen said on Tuesday.

The European Commission chief said the bloc’s rapid rollout of the “Readiness 2030” defence spending plan, meant to mobilise €800 billion, demonstrated the required “sense of urgency” for Europe to ward off Russia’s growing military threat and achieve security “independence” from the US.

But policymakers’ attempts to boost the EU’s economy by cutting red tape, integrating its single market, and reforming competition rules have not been pursued with the same sense of conviction, she said.

“I wish I could see the same sense of urgency across our competitiveness agenda,” von der Leyen said at a conference in Brussels. “Because our companies and workers can no longer wait.”

In a thinly veiled criticism of the European Parliament, von der Leyen called for the “urgent approval by the co-legislators” of the Commission’s “Omnibus” packages, which aim to cut companies’ reporting requirements in a range of areas and are currently being debated by MEPs.

The Commission president similarly suggested that Parliament should accelerate efforts to integrate the bloc’s fragmented capital markets and ratify the EU’s trade deal with the US.

Where are the champions?

Von der Leyen admitted that the Commission itself was guilty of failing to move fast enough in some areas.

In particular, she said the EU executive will “advance” the release of its merger guidelines, which are expected to include fresh proposals aimed at creating ‘European champions’ – corporations that can help plug the continent’s massive investment needs.

Speaking after von der Leyen, former European Central Bank President Mario Draghi said Europe’s economic challenges have “grown more acute” since his landmark report on EU competitiveness was released last year.

“The foundations of Europe’s growth, expanding world trade and high-value exports, have weakened further,” the Italian technocrat said, pointing to US President Donald Trump’s sweeping tariffs and increasingly fierce Chinese competition.

Draghi also suggested that the EU should become less “complacent” in its policymaking, adding that “excuses” are too frequently made for the bloc’s “slowness” in passing legislation.

“To carry on as usual is to resign ourselves to falling behind,” he said. “A different path demands new speed, scale, and intensity.”

(vc)