European Union leaders have reached a broad agreement on an ambitious economic action plan aimed at bolstering the bloc’s competitiveness amid intensifying pressure from the United States, China and Russia. The decision came after a summit on Thursday in Bilzen-Hoeselt, Belgium, where leaders expressed deep concern about unfair competition, coercive trade tactics and geopolitical rivalry that threaten the EU’s economic stability.
Under the plan — to be formally presented in March — the 27-nation bloc will pursue structural reforms designed to strengthen internal markets, upgrade energy infrastructure, deepen financial integration and loosen merger regulations to help European firms scale up and compete globally. Key components include simplifying bureaucratic hurdles, investing in strategic sectors like clean energy and technology, and promoting “Buy European” initiatives to support local industries.
European Commission President Ursula von der Leyen described the move as a “united and urgent response” to global economic pressures, while European Council President António Costa called it a “game changer” for long-term growth. Leaders also debated deeper financial tools, including potential joint investment vehicles, to enhance resilience. News as reported
