Brussels, 10/09/2024.- The European Affairs Committee of the Spanish Chamber of Commerce to the European Union held an extraordinary meeting in Brussels, chaired by John Rutherford, Chairman of the Committee, and attended by the Spanish Ambassador to Belgium, Alberto Antón, and the Deputy Permanent Representative Ambassador to the European Union, Oriol Escalas. The meeting addressed key issues such as Europe's geopolitical position in relation to China and the United States, the consolidation of the single market and the lack of investment in the continent.
José Vicente Morata, vice-president of the Spanish Chamber of Commerce and president of the Valencia Chamber of Commerce, opened the session, highlighting the importance of these meetings to strengthen ties between Spanish companies and European institutions. Morata pointed out: ‘It is essential that the business fabric actively participates in the European debate and that public policies take into account their needs and realities’.
With reference to the Draghi Report, presented a day earlier, John Rutherford emphasised some of the issues that are the focus of attention of the European Affairs Committee of the Spanish Chamber, such as the reform of the electricity market and industrial competitiveness, stressing that the diagnoses and priorities are clear, but the political will to implement profound changes is lacking. ‘The Draghi report proposes investments in key areas such as digitalisation, decarbonisation and defence, but the real challenge is how to sustain this massive investment year after year,’ he added.
The session was addressed by Fernando Navarrete, coordinator of the Group of the European People's Party in the Committee on Taxation, and Jonás Fernández, coordinator of the Group of the Progressive Alliance of Socialists and Democrats in the Committee on Economic and Monetary Affairs.
Fernando Navarrete stressed the need to increase Europe's competitiveness vis-à-vis the world powers and stressed that Europe must make up the ground it has lost over the last 15 years. ‘We are facing a world that has changed dramatically since the financial crisis, and Europe is lagging behind,’ said Navarrete. He also addressed how global dynamics have evolved, especially in relation to the US and China, and how this has transformed global public goods into national private goods, affecting Europe indirectly.
Furthermore, he stressed the need to apply the principle of subsidiarity, not only in the allocation of money, but also in the distribution of competences. ‘We have to do things that we have never done before. The Draghi report is a good attempt, but the key is to gain efficiency’, he concluded.
For his part, Jonás Fernández agreed that Europe's growth problems are evident, and pointed out that part of this decline is due to the lack of European counter-cyclical fiscal policy instruments, especially after the 2008 crisis. ‘The investment gap we are seeing may be a consequence of the lack of a collective response in the aftermath of that crisis. However, after the COVID-19 crisis, we did have instruments such as the Next Generation EU, which allowed for a faster recovery.
Both MEPs agreed on the need to consolidate the single market, especially in sectors such as energy and telecommunications, and that the current fragmentation continues to be an obstacle to the economic development of the European Union. Mr Fernández stressed that any business consolidation must not harm consumers or compromise social welfare.