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World Economic Forum – Villa Madama – Reviving the EU project; budget should look to growth, says Terzi

The European Union’s budget for 2014-20 should be focused on growth and include a strong stimulus for employment. This was Foreign Minister Giulio Terzi’s comment as he closed the World Economic Forum workshop held in Rome on 30 October 2012. In Terzi’s opinion, the time has come to “promote a strong revival of the entire European project”. A project that must provide “a new impetus and competitiveness” for the economy and at the same time “revitalise the political and institutional process”.

Cutting red tape

For Europe to become more competitive and attain more growth, explained Terzi, we will need to continue courageously on the path of “innovation, cutting red tape, reviving investment and fighting corruption and the waste of resources”. The Foreign Minister underscored the importance of completing the single market, which continues to have “enormous potential, which the EU must exploit”.

A European political space

It is also necessary to create a “European political space” that includes strong participation by citizens, as the President of the Republic, Giorgio Napolitano, has already proposed. Terzi explained that greater European competitiveness cannot rely solely on economic and institutional reform.

It is important, rather, to include the deeper principles underlying the European project and return to, and renew, the principles and values of the founding fathers. “We need to go on benefiting from the well-being and prosperity of these decades, a well-being and prosperity that had never before existed in Europe”, said Terzi. He recalled the values that underpin the European process: solidarity, responsibility, the rule of law, human principles, peace and development. “We need a strong, intensive dialogue on the future of Europe”, he added.

Italy also supports and promotes the expansion of Europe. When an important country like Turkey applies to enter, “we cannot look away”, declared Terzi. “Europe will be stronger and more competitive if it opens its doors”.