EU ministers agree on unity, more competitive economy, need for deeper ties with US By Reuters

BRUSSELS (Reuters) – European Union finance ministers agreed on Monday to remain united in their approach to the new U.S. administration and that a more competitive EU economy was the best protection from the potential transatlantic economic challenges, EU diplomats said.

At an informal dinner, the EU’s 27 finance ministers also agreed that deeper ties with the US were in the best interests of the EU and the US, EU diplomats said. familiar with the discussions.

There was also agreement between the ministers that low and stable energy prices were key to prosperity in Europe, because the bloc’s industry and consumers pay twice as much as their counterparts in the United States and four times as much as in China.

The drop in energy prices was therefore crucial for Europe to remain competitive in the global economy, the diplomats said.

The IMF said in a document prepared for the talks that further integration of the EU energy market and joint investment would solve the problem.

“Most ministers agree that further integration of the energy market would be beneficial,” said an EU diplomat.