Finance ministers of Germany and France aim to support European startups by creating a panel of experts to develop proposals for better financing. They emphasize the need for investment and less bureaucracy to help the euro area's economy compete globally. Policymakers recognize the region's struggle in innovation compared to the US and China, and highlight the startups' needs for accessible capital. Chancellor Friedrich Merz also promoted Germany as an attractive business center, discussing private investment opportunities for modernization efforts.
The finance ministers of the euro area's two biggest economies pledged to join forces to provide additional support for European startups. They believe innovative companies can grow into global champions.
Policymakers across the region are attempting to invigorate the euro-area economy, which is typically seen as lagging the US and China in innovation.
This panel will develop concrete proposals to strengthen financing for startups and growth companies in Europe, addressing the lack of access to capital frequently complained about in Europe's startup scene.
Chancellor Merz promoted Germany as a business location, highlighting opportunities for private investment in the modernization of our country.
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