European Policy Industry Compass
Twenty-five years ago, the European Union set itself the ambitious goal of becoming the most competitive and dynamic economic area in the world. Today, a quarter of a century later, Europe must acknowledge that it often ranks only third globally in terms of its share of the world’s GDP and also lags behind in other key indicators. The election of Donald Trump in 2024 marks a pivotal turning point, as do the EU elections themselves. This development will compel not only the Union but also globally active European companies to adapt their strategies to new political realities.
Europe faces profound challenges in 2024: economic and political landscapes are undergoing massive transformations—from digitalization and climate change to geopolitical tensions and shifting global power dynamics. Internal conflicts and contradictory objectives hinder clear and swift decision-making. For businesses, this creates an uncertain planning environment, hampering investments and strategic decision-making.
Business representatives increasingly speak of an estrangement between the once closely connected partners, business and politics. Instead of pursuing joint solutions, a lack of alignment dominates—a trend that jeopardizes the goal of strengthening Europe as a competitive economic hub.
Together with Prognos AG, we engaged in a multi-stage dialogue with over 60 leading figures in public affairs and communication management, as well as CEOs of DAX, MDAX, and ATX companies, to explore what it will take for Europe to secure a competitive future. The central message was clear: The EU stands at a decisive crossroads in 2024. Against this backdrop, the new Commission must now set the course for a long-term sustainable and competitive European economic strategy.
The result is the EPIC (European Policy Industry Compass), which summarizes the key findings of our discussions and serves as a “guiding compass” for the incoming EU Commission. Crucial to success will be improved permeability between business and politics and an intelligent networking of political activities at all levels. Only by strengthening trust and expanding the scope for action can the business community make its voice heard in politics and actively shape it.
We are delighted to present the EPIC to you and invite you to join us in building a competitive European economy.