Note: Single-source report; awaiting corroboration.
European Council President António Costa spoke at the EESC plenary debate on competitiveness, recalling previous discussions on housing scarcity as a crucial part of the current cost-of-living crisis. He emphasized that housing remains a significant concern for EU citizens and contributes to discontent with democratic institutions, exacerbated by inflation and the energy crisis. This situation highlights the connection between global developments and local challenges impacting Europe's competitiveness.
Costa outlined recent geopolitical disruptions affecting the EU, including the war in Ukraine, US tariffs influencing global trade, China's economic influence, and the war in the Middle East leading to an oil shock. These external pressures underscore the EU's vulnerabilities due to dependencies within a fragmented international trade system, especially affecting energy and electricity sectors critical to citizens and businesses.
In response, the President called for stronger EU measures focusing on economic and technological security. He stressed that such actions are vital for protecting the EU social model, creating opportunities for citizens, and making Europe more attractive for living and investment.
Despite criticisms about the EU's organizational pace, passivity, and lack of a unified global voice, Costa highlighted the EU's major strengths: a highly skilled workforce, world-class research, industrial excellence, a robust financial system, deep global trade integration, and resilient institutions. He cited these as strong foundations for EU competitiveness.
Referencing recent political commitments, Costa pointed to the ‘One Europe, one market’ agenda adopted by EU leaders in March 2025, as part of broader efforts to strengthen competitiveness in a changing global landscape.