Second meeting of the informal working group on European competitiveness

Ahead of the European Council meeting to be held on 19 and 20 March, and in light of the latest developments in the Middle East, the President of the Council of Ministers, Giorgia Meloni, German Federal Chancellor Friedrich Merz, and Belgian Prime Minister Bart De Wever today hosted a video conference meeting of the informal working group on European competitiveness, launched during the Leaders' retreat at Alden Biesen on 12 February.

In addition to Italy, Germany and Belgium, the video conference was attended by the European Commission, Austria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, Latvia, Lithuania, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.

The discussion first focused on the short and medium-term consequences of the ongoing conflict for the global energy market, and on the possible initiatives to be swiftly promoted to curb upward pressure on energy prices.

President Meloni focused in particular on the need for a temporary suspension of the carbon taxation mechanism (ETS) for energy production, pending a rapid and broader review of said mechanism in order to also address the issues of free allowances, ETS price volatility and the interaction between the ETS mechanism and the rules of the European electricity market.

The meeting also discussed the completion of the Single Market and simplification of European regulations.

In closing, the leaders agreed to remain in close contact in view of the March European Council meeting in order to keep attention focused on competitiveness issues and help define concrete goals and precise deadlines in the Conclusions.