Reply of the European Commission to the Contribution of the LXXII Conference of
Parliamentary Committees for Union Affairs of Parliaments of the European Union
(COSAC) plenary meeting, held in Budapest from 27 to 29 October 2024
The state of the European Union in the year of institutional transition and the 15-year
application of the Treaty of Lisbon
The Political Guidelines for the Commission 2024-2029 underline that the EU must stay the
course on the European Green Deal goals and that the focus will be on implementing the
existing framework in the simplest, fairest and most cost-efficient way and on working closely
with stakeholders. They highlight that the Commission will deliver within the first 100 days of
the new mandate a Clean Industrial Deal that will focus on strengthening the EU industry’s
competitiveness while speeding up Europe’s decarbonisation. The Commission will also
prepare a Vision for Agriculture and Food which will look at how to ensure the long-term
competitiveness and sustainability of our farming and food sector within the boundaries of our
planet. Recognising the impact of climate change as one of the greatest risks to our security,
the Commission will step up work on climate resilience and preparedness, notably through a
European Climate Adaptation Plan to support Member States on preparedness and planning
and ensure regular science-based risk assessments.
The Single Market is the foundation of our growth, innovation and competitiveness, and,
therefore, the Commission intends to reinvigorate our efforts to strengthen it and to create a
new momentum to modernise and deepen the Single Market for goods and services, based on
the realities and needs of businesses, workers and citizens. By June 2025, the Commission will
issue a Horizontal Single Market Strategy to promote the cross-border provision of services
and free movement of goods, including essential goods, and to remove existing regulatory and
administrative barriers.
The Commission agrees with COSAC on the importance of strengthening the Capital Markets
Union to unleash the full potential of the EU capital markets. While significant progress has
already been made on several dimensions in the framework of the 2015 and 2020 Capital
Markets Union Action Plans, and as confirmed in the Political Guidelines of July 2024 of
President von der Leyen, this European Commission will develop the idea in Enrico Letta’s
report and propose a European Savings and Investment Union, including banking and capital
markets. Successfully addressing the remaining obstacles to the completion of the Capital
Markets Union will entail a collaborative approach and intensive dialogue with Member States
and other stakeholders.
As to COSACs call for integrating the objective of improving competitiveness into all EU
policies, the Commission is taking this issue very seriously and is committed to remove
structural brakes on EU’s competitiveness. It will draw on the important report prepared by
Mario Draghi, many of whose recommendations are already reflected in the political guidelines
and mission letters. As its first major initiative of this mandate, the Commission presented a
Competitiveness Compass on 29 January 2025. The Compass frames the Commission’s work
on competitiveness in the current mandate and builds on the three pillars of the Draghi report: