Lagarde (Bce): Ue sviluppi mercato interno e superi voto unanimità per contrastare dazi Usa

Guarda Lagarde (Bce): Ue sviluppi mercato interno e superi voto unanimità per contrastare dazi Usa - Quotidiano Nazionale su Dailymotion

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00:00And we have to appreciate that completing the banking union, deepening our capital market,

00:06and there are really good proposals coming out of the Commission that will be, I think, disclosed formally in early December.

00:15Deepening that capital market, harmonizing supervision, would therefore be transformative,

00:21accelerating the path towards a truly integrated home market.

00:26The same logic applies to digital economy.

00:30Just as passporting embodies mutual recognition, the mutual recognition of digital identities,

00:38trust, services, and other credentials would dramatically improve interoperability

00:42and eliminate hidden costs that slow the growth of Europe's digital markets.

00:49So that's step number one, mutual recognition, taken one level higher,

00:54not just the recognition of professions around Europe,

00:57but going deeper into what is the backbone of the economies of the future that will drive our growth.

01:06The second step, and I'm taking you a little bit further into the difficulty of it,

01:12is to streamline the decision-making.

01:15By doing what?

01:16by extending qualified majority voting to areas on which Europe's future growth depends.

01:24Qualified majority voting has always existed within a certain perimeter,

01:30and it's been instrumental in driving integration,

01:32but it has now reached the limit of this perimeter.

01:36In several critical fields, the continued requirements for unanimity in the European Council

01:42still prevent meaningful progress towards completing the single market.

01:50What comes to mind?

01:53Taxation.

01:54Taxation is a clear example.

01:57You know, I've been sharing those meetings of Finance Minister

02:00when we try to move forward into some degree of harmonization

02:03of either the corporate tax base or the VAT.

02:07Well, reforms such as harmonizing VAT rules

02:09or establishing these consolidated corporate tax bases

02:12remain stuck because of national vetoes.

02:16Not so many of them, but national vetoes, one is enough.

02:20Leaving firms to navigate a maze of fragmented tax regimes.

02:24That fragmentation is particularly damageable

02:28in a world of digital business models

02:31which rely predominantly on intangible assets.

02:37Thank you.