EU rules need to be revised for today's challenges says Giorgetti

The European Union's rules need

rethinking for the bloc to be able to face up to the challenges

of the modern world, Economy Minister Giancarlo Giorgetti said

on Tuesday.

"We are not destined for failure, but the outcome will depend on

our ability to transition from a Europe that manages emergencies

to a Europe capable of governing change, to transform crises

into opportunities and thus redefine our future," Giorgetti said

at the ceremony for the closing of the academic year of the

Finance Police School.

"Europe faces complex challenges, too complex to be addressed

with old ideological frameworks and outdated rules that clearly

need to be revised to bring them more in line with our times."

Giorgetti and Premier Giorgia Meloni recently successfully

lobbied for the European Commission to allow more flexibility in

its budget rules to allow for more energy investments in the

wake of the energy-price spike triggered by the Iran war.

"This is not the time for hesitation," Giorgetti continued

"A change of pace is needed in Europe.

"First of all, politics must go back to playing the central role

it has a right to.

"The rules of the markets and the economy must not be the ones

that limit and guide the choices of the political world and the

democratic institutions.

"Politics can no longer abdicate its fundamental role in

safeguarding collective rights and social equity, and therefore

it (politics) must establish the ethical and social framework

for decision-making.

"The economy generates progress and efficiency, but only

politics can direct that progress and efficiency towards

stability and social equity".

ALL RIGHTS RESERVED © Copyright ANSA