Primary Law
4 instrumentsImplements Draghi Report’s 170+ recommendations. Five pillars: closing innovation gap, joint decarbonisation/competitiveness plan, increasing security/reducing dependencies, financing competitiveness, strengthening governance. EU productivity growth at 0.7% vs US 1.3% for past 20 years. Estimated €750–800B/yr additional investment needed.
Response to EV transition challenges and Chinese competition. CO₂ penalty flexibility for manufacturers, battery value chain support, EV charging infrastructure targets, supplier transition fund. Germany/France split on scope. Key test of "competitiveness vs climate" balance.
Rebranded Capital Markets Union. Aims to mobilize €10T+ in EU household savings for productive investment. Harmonized retail investment framework, consolidated tape for securities, pension dashboard. EU households hold €35T in deposits vs €23T in US invested in markets.
Optional EU-wide corporate law regime — companies can incorporate under EU law directly, bypassing 27 national company law systems. Most ambitious single market proposal in decades. Major sovereignty concern for Member States. Legal basis: Article 352 TFEU (unanimity required).