European Union leaders have called for the strengthening of the euro and progress towards a Capital Markets Union in a joint appeal published by the Funke Media Group in Germany on Friday. The appeal was signed by European Commission President Ursula von der Leyen, European Parliament President Roberta Metsola, European Council President Charles Michel, European Central Bank President Christine Lagarde, and Eurogroup President Paschal Donohoe.
In the appeal, coinciding with the twenty-fifth anniversary of the EU's single currency, the leaders emphasize the need for cooperation to overcome challenges, including increasing geopolitical tensions and the climate crisis. The heads of the institutions stated in the article, "Our competitiveness faces unprecedented challenges due to energy and industrial policy measures in other parts of the world."
The article is set to appear in the media group's print editions tomorrow, Saturday. They also called for the establishment of a Capital Markets Union that extends across the entire continent and can be used to mobilize private financial resources. The article clarified that, to enhance competitiveness and security, "existing structures can be strengthened by adjusting budget rules and establishing a more robust banking union."
