Finance
EU ministers agree on unity, more competitive economy, need for deeper US ties
Published by Global Banking & Finance Review®
Posted on January 20, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 20, 2025
1 min readLast updated: January 27, 2026
EU finance ministers agree on unity and competitiveness to strengthen US ties and tackle energy price challenges.
BRUSSELS (Reuters) - European Union finance ministers agreed on Monday to stay united in their approach to the new U.S. administration and that a more competitive EU economy was the best protection from potential transatlantic economic challenges, EU diplomats said.
At an informal dinner, the EU's 27 finance ministers also agreed that deeper ties with the U.S. were in the best interests of both the EU and the U.S., EU diplomats familiar with the discussions said.
There was also agreement among the ministers that low and stable energy prices were key to prosperity in Europe, because the bloc's industry and consumers pay twice as much as their counterparts in the U.S. and four times as much as in China.
Lowering energy prices was therefore crucial for Europe to stay competitive in the global economy, diplomats said.
The IMF said in a paper prepared for the discussions that further EU energy-market integration and joint investment would solve the issue.
"Most ministers agreed that further integration of the energy market would be beneficial," an EU diplomat said.
(Reporting by Jan Strupczewski; Editing by Rod Nickel)
EU finance ministers agreed to stay united in their approach to the new U.S. administration, emphasizing that deeper ties with the U.S. serve the best interests of both parties.
Low and stable energy prices are crucial for prosperity in Europe, as the bloc's industry and consumers currently pay significantly more than their counterparts in the U.S.
The IMF recommended further EU energy-market integration and joint investment as solutions to improve energy prices and competitiveness.
Most ministers agreed that further integration of the energy market would be beneficial for maintaining competitiveness in the global economy.
The discussions took place at an informal dinner among the EU's 27 finance ministers, focusing on unity, competitiveness, and strengthening ties with the U.S.
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