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Europe will lose its independence from global economic giants if its leaders do not act quickly to restore competitiveness, German Chancellor Friedrich Merz warned.
Speaking in the German parliament on Thursday ahead of a summit of European leaders in Brussels next week, Merz urged the bloc to undertake broad economic reforms or risk losing global relevance.
"This is essential for the future of our country and the countries of Europe, because in the coming weeks, months and perhaps within a few years, it will be decided whether Europe will remain an independent economic power in the global economy or whether we will become a pawn of the main economic centers in Asia or America," Merz said.
Merz has been under growing political pressure at home to do more to address Germany's ailing economy. After two straight years of economic contraction, economists expect little or no growth this year, partly because of U.S. President Donald Trump's tariff policies, which have hit Berlin's export-oriented economy particularly hard. German business leaders are now urging the chancellor to undertake bolder reforms to stimulate growth.
Merz's center-right coalition has pledged to undertake reforms to the labor market and social welfare. But in recent weeks, Merz has increasingly pointed the finger at Brussels, urging the bloc to cut red tape for businesses, strengthen the EU's internal market and reach more global trade deals.
"We don't have a problem with awareness in Europe; we have a problem with implementation," Merz said on Thursday, adding, "I intend to raise this issue of implementation again with our European partners. Once again, this is mainly about the competitiveness of our European economy."
Merz suggested that an action plan is already on the table, referring to two studies by former Italian prime ministers Mario Draghi and Enrico Letta on proposals to deepen the EU's internal market and boost competitiveness. "These two reports should not disappear into the closets of the European Commission," Merz said, adding "they now belong on the European Union's agenda."
Merz called on the Commission to negotiate more EU-only trade deals with nations and trading blocs around the world. He also urged the EU to sign a trade deal with the South American Mercosur bloc of countries before the end of the year.
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