BRUSSELS, February 13. /TASS/. The European Union leaders at an informal summit in Belgium have agreed to transition to a "multi-speed Europe" model, which would allow member states to participate in deeper integration projects at their own discretion, according to Politico.
Key decisions in the EU, including those aimed at deepening integration to boost economic growth, require unanimous approval, which complicates large-scale reforms. As a result, the concept of a "multi-speed Europe" (or "two-speed Europe") has been proposed for decades. This model would allow member states to voluntarily join further integration initiatives, leading to the creation of groups within the bloc based on their level of integration.
On Thursday, an informal meeting of EU leaders took place at the Alden Biesen castle in Belgium’s Limburg province. The discussions focused on stimulating economic growth amid geopolitical tensions stemming from disputes with the US over Greenland, the ongoing Ukrainian conflict, and increasing competition from Chinese companies. According to Politico, participants supported the initiative under which participation in new integration projects would be voluntary. The European Commission will prepare a detailed plan titled "One Europe, One Market Roadmap and Action Plan," which European Commission President Ursula von der Leyen is set to present in March. The plan will address reforms such as simplifying regulations and mobilizing private and public capital to finance startups.
According to an unnamed diplomat from an EU member state, this approach could even stimulate countries that are skeptical of deeper integration, as they would not want to be left out of projects aimed at increasing prosperity. "Discussions on enhanced cooperation could serve as a motivating factor to encourage member states to participate," the diplomat said.
According to the publication, one potential reform project could be the creation of a common capital market. The roadmap will also set targets for sectors such as telecommunications, services, and energy. Another proposed reform could involve introducing a special EU legal framework to simplify company registration in member states, shifting businesses from national jurisdictions to a pan-European one. Under this proposal, companies could be registered within 48 hours by submitting an online application.