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Title page

Contents

INTRODUCTION - CHARTING EUROPE'S PATH TO 2030 4

EUROPE MUST ACT NOW TO BRIDGE REGIONAL DIVIDES AND HALT POLITICAL EXTREMISM 11

A BLUEPRINT FOR TRANSFORMING EU INDUSTRY THROUGH PLACE-BASED INNOVATION 23

TURBOCHARGING EUROPE'S INNOVATIVE SMES: SEVEN CORE PRINCIPLES FOR CORPORATE GOVERNANCE AND MANAGEMENT 40

HOW TO ACHIEVE BETTER EU LAWS 54

HOW TO ENSURE A SKILLS-BASED FUTURE FOR EUROPEAN COMPETITIVENESS 65

WHAT MUST BE PRIORITISED FOR THE FINANCIAL SECTOR OVER THE NEXT FIVE YEARS 76

A CONSUMER FINANCE ROADMAP FOR THE NEW EUROPEAN MANDATE 100

HOW THE EU CAN - AND SHOULD - ENHANCE ITS SECURITY AND GLOBAL COMPETITIVENESS 117

A RULE OF LAW AGENDA FOR 2030 - PRIORITIES FOR A PRINCIPLED AREA OF FREEDOM, SECURITY AND JUSTICE 133

BETWEEN A ROCK AND A HARD PLACE: ENERGY AND CARBON IN THE NEW POLITICAL CYCLE 156

ALIGNING THE GLOBAL GATEWAY AROUND 'RESILIENCE' COULD GIVE IT A NEW LEASE ON LIFE 170

CONCLUSIONS 177

LIST OF CONTRIBUTORS 179

Table 1. Recommended approaches in EU industrial policy 33

Table 2. New Commission legislative proposals in the first four years of each five-year term (1999-2024) 56

Table 3/Table 1. The link between competitive strategies, organisational structures and skills 70

Table 4/Table 1. New rules affecting financial services providers and markets, initiated under the von der Leyen I Commission 84

Table 5/Table 2. Number of articles, level 2 and 3 measures under the core EU financial services acts 86

Figure 1. The rise of far-right movements in the European Parliament 12

Figure 2. The rise of Euroscepticism in the EU 13

Figure 3. GDP per capita of the EU compared to that of the US 14

Figure 4. The position of the US, EU and China in complex technologies 15

Figure 5. Spiky map illustrating 2024 voting patterns to the European Parliament in France 16

Figure 6. Intra-EU GDP by PPP 18

Figure 7. Employment growth and Front National vote share (2011-19) 19

Figure 8. Employment growth and AfD vote share (2011-19) 19

Figure 9/Figure 1. A backcasting approach to linking place-based innovation with industrial policy 37

Figure 10/Figure 2. Structure of financial markets in the EU27 and the US (% of GDP, average 2007-2014 and 2015-2022) 77

Figure 11/Figure 3. Number of annual delistings in the EU classified by type of market 79

Figure 12/Figure 4. Share of assets in different types of equity UCITS (2012 and 2023) 80

Figure 13/Figure 5. Total assets of credit institutions (EUR trillion and % of GDP, 1997-2023) 82

Figure 14/Figure 6. Price-to-book ratios in the euro area and in the US (2007-2023) 83