What is the most important thing in life? Trust! And that is also the most important thing in politics and economics. After the latest antics of its president, US politics can no longer be trusted. We have never been able to trust the autocrats in Russia and China. So the EU is now becoming a beacon of democracy and the rule of law in which people around the world can place their trust. Europe's finest hour is now.
Inevitably, the Europeans are making noticeable progress in matters of common security and defence. This is something that many citizens have wanted for decades. However, naive illusions about the state of the world have prevented this, as have national inertia. Sad but true: ‘master strategist’ Putin and the political will-o'-the-wisp Trump are unintentionally but significantly helping to accelerate this development.
Europe is under enormous military, political and economic pressure. Precisely because the situation is difficult, there is also cause for hope. To overcome the current challenges, we need new ideas, such as the so-called ‘28th regime’ or the Europe-wide corporation EU Inc. for start-ups. A Europe-wide petition is currently running for this. The EU must deliver now, there will be no second chance.
On 9 September 2024, Mario Draghi (who needs no introduction) presented his report ‘The future of European competitiveness’. According to the report, the tasks ahead are'huge‘, and so are the financial requirements. To cover these, one of his proposals was the'issue of a common secure asset’. (The term EU bonds is not mentioned at this point). (1) This would also serve, according to Draghi, as a central building block for the development of an investment and savings union. And that is what the following is about.
Europeans' scientific and technical achievements are often monetised elsewhere. This not only leaves taxpayers and employees at a disadvantage – Europe's autonomy is also threatened. This must change as a matter of urgency, according to the European start-up associations and European stock exchanges, which are sounding the alarm in a joint statement.