What makes the European Union truly unique: facts that sow optimism

May 9, 1950. Only five years after World War II ended, France’s foreign minister had a bold idea: "The French government proposes that the Franco-German production of coal and steel as a whole be placed under a common High Authority, within the framework of an organization open to the participation of the other countries of Europe.” With this, Robert Schuman not only initiates the reconciliation of the former war opponents, but also sets a unique project in motion: the founding of the European Union.

In memory of this moment, “Europe Day” is celebrated annually on May 9th. And looking back at more than 70 years of European ideas and unification, it can be said: the EU is a remarkable success in many ways. Peace, stability, legal certainty, and freedom of movement – these are achievements which are by no means self-evident and which we have to keep reminding ourselves of. Citizens enjoy comprehensive fundamental rights; employees have at least four weeks of annual leave; young people can study in any other EU country with the Erasmus program; the environmental standards are among the highest in the world.

The European project also includes a thick economic chapter. In the three decades of its existence, the internal market has ensured growth and prosperity: on average, according to a stocktaking by the European Commission, economic output grew by eight to nine percent during this time. This is not least thanks to the innovative strength of Europeans, which is also based on the diversity of their community.

What if the EU didn’t exist?

If the EU didn't exist, the gross domestic product per capita would be significantly lower in many member states, as economists calculated in 2023: in Germany, for example, the minus would be a good five percent, in France and Italy four percent each, and in Austria and the Netherlands even eight percent. But from counterfactual to reality: the 24 million companies in the single market recently (2022) achieved a GDP of 15.8 trillion euros – around five trillion euros more than in 2009 and around ten trillion more than in the year the market was founded in 1993. Strong sectors like the chemical and plastics industry, which ranks second globally, have been contributing to this.

When it comes to the word global, another factor should be highlighted: the EU accounts for almost 15 percent of worldwide GDP. Still. According to Statista, the share is likely to continue to decline in the coming years (as in the U.S., which is currently roughly on a par), while China continues to catch up in pole position. And that brings me to where the Europe story has its weak points. Because for too long it has been based on assumptions that are faltering or no longer exist: that the beneficial globalization continues in rule-based structures, that the EU has a reliable protector in the U.S., a cheap supplier in Russia and an insatiable buyer in China.

In the meantime, the People's Republic has blossomed into a gigantic competitor that no one can ignore and from which Europe can learn a lot, for example when it comes to speed, flexibility and consistent action. However, the entire world order is drifting into a tense, multipolar system with increasing struggles for power and influence, ideological differences and isolationist tendencies. The EU urgently needs to adapt to this new world. The neglected external perspective must complement the traditional internal perspective.

But for this to happen, the internal situation also needs to improve. The EU and the single market urgently need fundamental reform. This is also evident by the fact that the “Letta report” from February is now being followed by a further analysis with the “Draghi report” expected in June. The necessity for this may not necessarily be obvious, because much of it is not new – the industry has been pointing out numerous grievances for years. And the recommendations for action are also well known in Brussels: ensure unity, reduce bureaucracy, expand shared infrastructure, clear out the jungle of subsidies and regulations and much more.

Europe's industry must become more competitive again

In everything, one goal must be at the forefront: maintaining and expanding the competitiveness of European industry. At the moment, things are not going well for them. With the Antwerp Declaration, more than a thousand companies and organizations recently announced the urgent need for reform.

In my view, one thing is particularly important: that the EU focuses on its core competencies, especially with regard to its position in the geoeconomic game of forces. For me, this “USP” is technological innovation combined with the groundbreaking vision of becoming the first climate-neutral continent by 2050. Europe can and must become a global hub for green, circular future technologies, with the help of strong industries such as chemistry.

All of this should be considered when the European elections take place at the beginning of June. I will definitely cast my vote. So that the EU story becomes a real bestseller.