Germany Advocates 'Two-Speed' EU for Economic Resilience

Germany is advocating for a 'two-speed' European Union to enhance decision-making and economic independence. The German Finance Minister suggests that a core group of countries should advance key policies, focusing on competitiveness, sovereignty, and resilience. A meeting will establish a concrete agenda aimed at strengthening Europe.

Germany is championing a 'two-speed' European Union to overcome decision-making stagnation and boost the economies within the bloc. The German Finance Minister suggested that a core group of nations advance policies that bolster Europe's strength and independence.

In a letter seen by Reuters, Germany and France's finance ministers plan to enhance EU competitiveness by creating a format involving the bloc's six leading economies. This collaboration aims to fortify Europe's sovereignty and resilience amid growing global unpredictability.

The proposal includes a four-point agenda to expedite the capital markets union, invigorate the euro's international role, streamline investment in defense, and secure critical raw material supplies. The strategy calls for closer cooperation among member states and heightened engagement with global partners.

(With inputs from agencies.)