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Good morning. EU capitals have voiced alarm about Donald Trump\u2019s plan to meet Vladimir Putin in Budapest, which would put Hungary in breach of its international obligations as Putin is wanted for war crimes by the International Criminal Court. \u201cWe\u2019re all grinning through our teeth whilst saying this is fine,\u201d said one EU diplomat. <\/p>\n
Today, our economy correspondent reports on the EU\u2019s upcoming efforts to make life easier for businesses operating across the bloc. And our climate correspondent hears about Dutch proposals to boost recycling.<\/p>\n
Brussels is planning to launch a \u201c28th regime\u201d next year to let companies operate and raise funds across EU member states by complying with one set of rules rather than 27 different ones. But the question is how ambitious will it be, writes <\/strong><\/em>Paola Tamma<\/strong><\/em>.<\/strong><\/em><\/p>\n Context: The European Commission will today unveil its work programme for next year. One of the most awaited initiatives is the regime, which would \u201csimplify rules\u201d and tackle \u201ccritical aspects in areas like insolvency, labour and tax law,\u201d according to the commission. <\/p>\n A proposal on the 28th regime is expected at the beginning of the year, according to a draft of the work programme seen by the Financial Times. <\/p>\n EU Inc, a grassroots campaign, has already been lobbying the commission for \u201cone standard legal entity for all of Europe\u201d, said Andreas Klinger, one of its initiators.<\/p>\n Klinger said that it was \u201cextremely hard\u201d to fundraise in Europe due to fragmented legal systems. As a result, only 18 per cent of early-stage investment is pan-European. \u201cYou need continental scale\u2009.\u2009.\u2009.\u2009otherwise Dutch founders compete alone against China, Lithuanian founders compete against the USA,\u201d said Klinger.<\/p>\n A common legal entity could also help businesses expand across the EU and cut back bureaucracy. \u201cIf set up properly, EU Inc could be a platform for that,\u201d Klinger said.<\/p>\n The key debate is whether to go narrow but deep, or broad but shallow.<\/p>\n The narrow option would offer a full legal regime across the EU, including tax, labour and governance rules \u2014 but only for specific firms Brussels deems \u201cinnovative\u201d.<\/p>\n The other, broader option would be open to all companies, but limited to EU-wide incorporation, keeping the other rules national.<\/p>\n Trade unions oppose the narrow option, arguing that it would erode labour rights.<\/p>\n Klinger also backs the broader option, arguing that innovation is difficult to categorise. \u201cWho is Brussels to judge what\u2019s a good business?\u201d he said.<\/p>\n EU leaders seem to indicate that\u2019s their preferred option too. Earlier this year, they called on Brussels to \u201cpropose an optional 28th company law regime.\u201d<\/p>\n But the real challenge isn\u2019t political compromise \u2014 \u201cit\u2019s building something the market will actually use,\u201d said Klinger.<\/p>\n Since taking office German Chancellor Friedrich Merz has projected a newfound German assertiveness. But with the economy still mired in its longest period of stagnation since the second world war, he is facing an impatient and sceptical nation.<\/p>\n Ahead of a meeting of EU environment ministers today, the Dutch government has laid out ideas for cutting the prices of materials in the EU by promoting more circular use, writes <\/strong><\/em>Alice Hancock<\/strong><\/em>.<\/strong><\/em><\/p>\n Context: The EU relies on its trading partners for much of its natural resources and energy. The European Commission is due to present a circular economy act early next year in an effort to promote recycling and reuse of materials.<\/p>\n The Netherlands has some ideas on how to lower prices of raw materials by making better use of what\u2019s already in the EU. In a document seen by the FT, it asked the commission to lay out rules to force companies to be as efficient as possible when making products, set targets for recycled or bio-based materials and restrict landfill.<\/p>\n It also said Brussels should focus on making sure that electronic waste was put to better use, with member states all adhering to the same rules.<\/p>\n \u201cEveryone has old phones or batteries at home, so let\u2019s make use of the materials they contain. This will make our economy cleaner and stronger while reducing our dependence on other countries,\u201d said Thierry Aartsen, Dutch state secretary of transport and the environment.<\/p>\n The EU should also reduce the incentive for customers to buy new by \u201crestricting advertising that encourages consumption, limiting the number of collections per year, and reducing the number of sales periods,\u201d the paper said.<\/p>\n European Commission presents its 2026 working programme to the European parliament in Strasbourg. <\/p>\n<\/li>\n EU environment ministers meet in Luxembourg.<\/p>\n<\/li>\n EU general affairs ministers meet in Luxembourg.<\/p>\n<\/li>\n<\/ol>\n Free Lunch<\/strong> \u2014 Your guide to the global economic policy debate. Sign up here<\/p>\n The AI Shift<\/strong> \u2014 John Burn-Murdoch and Sarah O\u2019Connor dive into how AI is transforming the world of work. Sign up here<\/p>\n Are you enjoying Europe Express? <\/em>Sign up here<\/em> to have it delivered straight to your inbox every workday at 7am CET and on Saturdays at noon CET. Do tell us what you think, we love to hear from you: <\/em>europe.express@ft.com<\/em>. Keep up with the latest European stories <\/em>@FT Europe<\/em><\/a><\/p>\nChart du jour: Sick man<\/h2>\n
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