At A Summit In Belgium, EU Leaders Agreed On A Revolutionary "Europe Of Two Speeds" Policy
1- 13.02.2026, 10:37
- 2,732
This will be the basis for further economic strengthening of the European Union.
Individual EU leaders at an informal summit in Belgium on February 12 actually agreed that the concept of a "Europe of two speeds" will now be the basis for further economic strengthening of the European Union.
According to EU Observer.
Few EU leaders, notably European Commission President Ursula von der Leyen, French President Emmanuel Macron and German Chancellor Friedrich Merz, have endorsed the so-called "Europe of Two Speeds" concept. It is designed to promote reforms by circumventing the principle of unanimity, which is seen as an obstacle to competitiveness in the face of strategic rivalries with the United States and China.
They were joined by former European Central Bank President Mario Draghi and another former Italian prime minister Enrico Letta. Both have published reports in 2024 to guide efforts to improve EU competitiveness.
On the sidelines of the meeting, Italian Prime Minister Giorgia Meloni announced that a new working group led by Italy, Germany and Belgium focused on competitiveness will continue its work ahead of the March European Council meeting.Nineteen countries took part in the meeting. Spain, Portugal, Ireland, Portugal, Slovenia, Malta and the three Baltic states did not take part.
Belgian Prime Minister Bart de Wever acknowledged that this format looked "not very elegant" to those absent, but stressed the importance of quick action.
The meeting gave new life to the Banking and Capital Markets Union (CMU) project, which has been stalled for years due to disagreements between countries, under the name of the Savings and Investment Union (SIU). The revamped format aims to unlock long-term savings and boost economic growth, despite ongoing disputes over taxes and banking supervision.
On Wednesday, von der Leyen warned: if member states do not move forward with the long-awaited CMU this year, she will move forward with a smaller coalition of countries. "Completing the formation of the Savings and Investment Union (the updated name of the CMU) could release up to 470 billion euros of investment," she said.
On Thursday, she reiterated that if sufficient progress is not made by June 2026, other options will be considered. "We often move at the speed of the slowest, and strengthened cooperation avoids this," von der Leyen said.
Another issue the leaders discussed Thursday was the so-called "28th regime," which involves treating the EU as a single market for company registration and labor - doing away with a mosaic of 27 different national rules seen as a barrier to attracting capital.
The "28th regime," which many see as a potential "game changer," is expected to be presented by the end of March. "Wherever you are, you will be able to register an EU-incorporated company within 48 hours," von der Leyen said Thursday.
If not all 27 member states agree to implement the plan, a separate group of countries could move forward, she added.
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