EU wants to reduce bureaucracy with a competitive compass and help industries

Brussels – The EU lags behind in competition with the USA or China. That should change. With the competitive compass, which EU Commission President Ursula von der Leyen presented on Wednesday, the bureaucracy is to be reduced. A promise that has long been talked about in Brussels. In the future, however, the EU wants to buy together on strategic resources and simplify guidelines, as has happened in vaccines or finally in gas during the energy crisis. “We have to act faster in total,” says von der Leyen. Europe has to reduce its weaknesses in order to become more competitive. That was also the reason why the former ECB boss Mario Draghi was asked to write a report on the situation of the EU.