German entrepreneurs value EU achievements, but competitiveness seen at risk By Reuters

BERLIN (Reuters) – Germany’s entrepreneurs value the European Union for the political stability and market access it delivers but say the bloc is too bureaucratic, a survey of 3,000 companies of the German chamber of commerce DIHK showed on Wednesday.

At the same time, they emphasise that the competitiveness of the European economy urgently needs to be strengthened after the European elections, because it is seen as being under threat.

“Despite its fundamentally favourable starting position, Europe is in danger of losing ground in international competition. This trend must be stopped immediately,” said DIHK managing director Martin Wansleben.

He said the EU’s Green Deal is too bureaucratic. “Bureaucracy must be reduced, not increased, so that companies have more resources for a climate-friendly reorganisation of their business activities,” Wansleben said.

Of the companies surveyed, 95% said reducing bureaucracy should be a priority.

Some 68% of companies hope for a secure and affordable energy supply as the second focus of upcoming EU policy.

“We have painfully learnt that an affordable and secure energy supply cannot be taken for granted, but it is fundamental for companies and therefore also for jobs in Europe,” said Sibylle Thierer, vice-president of Eurochambres.

Effective protection against cyberattacks is becoming increasingly important, being chosen as a desired priority by 52% of the companies.

The DIHK company barometer for the 2024 European elections shows that companies value EU achievements as political stability (82% of the companies surveyed), a stable currency (76%), uniform EU norms and standards (68%), access to European markets (66%).

However, almost two-thirds of German companies believe that the EU has become less attractive as a business location over the past five years and 56% feel that business activity has fallen, the survey showed.