Europe is in turmoil in many ways. How these developments affect businesses? This was the approach as the Advisory Board of Momentous visited last week Brussels. Senior Advisers Peter Fagernäs, Mikko Haapanen, Jussi Itävuori and Kim Pomoell traveled to Brussels, together with Momentous Managing Partner Mia Aspegrén and Senior Partner Pasi Natri.
At the Parliament, the Advisory Board discussed the topical issues of the EU agenda. More in depth the group learned about the newly formed Single Resolution Board. SRB focuses on preparations to avoid negative impacts of potential bank failures on the economy and on financial stability. This elaboration was completed by discussions on European growth potential and EU’s role in boosting the economy. Furthermore, the various roles of companies, trade organizations and consultancies were analyzed.
The hectic day was completed by networking cocktails participated by key Public Affairs actors.
To finalize the tour, the Advisory Board wrapped up with European Commissioner, Vice President Jyrki Katainen at his cabinet.
To summarize, key notions may be squeezed to three main topics: Consequences of Brexit (roadmap still missing), the future of free trade (negotiations with the United States, approval of the Canada agreement, lessons of the Korea deal, status of China as market economy) and growth potentials in Europe (e.g., European Fund for Strategic Investment has proven to be a success). Discussions also covered, among others, energy union, bioeconomy, circular economy, digital single market, roaming in telecomms, and social dimension.
Momentous’ insight on the European developments is, naturally, at the disposal of our clients.
Marketta Lähde works as a Senior Consultant at Momentous Brussels.