The president of the Athens Chamber of Commerce and Industry, Giannis Bratakos, is stressing the need for common European measures to address high energy costs and for adequate funding to boost the competitiveness of the European economy. His comments follow the conclusions of the European Council summit on energy, competitiveness and the new EU budget.
Mr Bratakos warns that relying exclusively on national subsidies could create new disparities in the single market, as countries with greater fiscal headroom would be able to provide more support to their businesses.
His statement reads:
“The European Council’s discussions on the new EU budget and how to tackle energy costs have a direct bearing on the future of Greek business.
Europe cannot set ambitious goals for competitiveness, industry and energy security while at the same time limiting the resources needed to achieve them. The Greek government is entirely right to oppose the proposed cuts to the EU budget. Cohesion Policy and funding for competitiveness are vital tools for investment and growth in the Greek economy.
Greece’s call for additional European measures to tackle energy costs is equally important. Measures already announced at national level are necessary, but they cannot, on their own, address a problem of European scale.
There is, however, another issue we must not overlook. If Europe limits itself to allowing member states to subsidise their businesses with national funds, it will create new disparities in the single market. Countries with greater fiscal headroom will be able to offer more support to their businesses, while others will be put at a disadvantage.
That is why we need common European financing tools, measures that will genuinely reduce energy costs, and investment in networks and energy interconnections.
We cannot speak of a single European market when businesses are expected to compete with such widely differing energy costs and such unequal access to state support. Europe must ensure that competitiveness depends not on the fiscal strength of each country, but on the productivity, innovation and capabilities of its businesses.
For Greek businesses, the goal is clear: a Europe that will support production and encourage investment, while creating the conditions for a more competitive and resilient production model.”