Published by Global Banking & Finance Review®
Posted on October 21, 2025
1 min readLast updated: January 21, 2026
Add as preferred source on GoogleEU leaders, including Merz, Macron, and Meloni, urge legislative reform to enhance competitiveness, ahead of the EU summit.
BRUSSELS (Reuters) -The leaders of 19 European Union countries have urged the bloc to launch a new drive to "review, reduce and restrain" legislation to make the EU more economically competitive, according to a letter seen by Reuters on Tuesday.
The letter to Antonio Costa, president of the European Council of EU leaders, was signed by leaders including German Chancellor Friedrich Merz, French President Emmanuel Macron and Italian Prime Minister Giorgia Meloni.
"We want to preserve the European Union for what it stands for – freedom, security and prosperity. To do this, we must change its course. Not just a little but substantially," said the letter, sent ahead of an EU summit in Brussels on Thursday.
(Reporting by Andrew Gray, Editing by Dominique Vidalon)
Legislation refers to laws enacted by a governing body, such as a parliament or congress, which regulate various aspects of society, including economic activities and business operations.
European economies refer to the economic systems of the countries within Europe, characterized by diverse markets, currencies, and regulatory frameworks that influence trade and investment.
Economic growth is the increase in the production of goods and services in an economy over a period of time, typically measured by the rise in Gross Domestic Product (GDP).
Business investment involves the allocation of resources, usually financial, by companies to acquire assets or improve operations, aimed at generating future returns and fostering growth.
The financial community comprises individuals and institutions involved in the management, investment, and regulation of financial assets, including banks, investors, and regulatory bodies.
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