Europe on the "Restart": Von der Leyen reveals what's planned

She added that the plan will be presented with detailed deadlines and targets to strengthen and unify the European economy, and also noted that the European Emissions Trading System (ETS) has clear advantages and mechanisms for controlling carbon prices.

According to Euronews, von der Leyen said at a press conference following the EU leaders’ summit that the action plan focuses on five key areas: administrative simplification, the single market, energy, digitalization, and trade.

In March, the Commission will present a detailed plan for further developing the single market of 450 million consumers, including a capital markets union that would allow more productive use of roughly €10 trillion in savings currently held in bank accounts, Reuters reported.

Speaking about the ETS, the Commission President emphasized that the system includes elements that allow carbon prices to be modulated in case of excessive increases or unfavorable economic conditions, through the so-called “Market Stability Reserve.”

Von der Leyen added that the EU will thoroughly review these elements as part of the planned ETS review scheduled for the third quarter of this year, ensuring the system remains efficient and adaptable to current economic and climate challenges.

European leaders met at an informal summit at the Alden Biesen complex in Belgium’s Limburg province, focusing on the competitiveness of the European economy.

The day before, at an industrial summit in Antwerp, representatives of European industry presented their priorities to top EU officials, calling for lower energy prices, reduced regulatory burdens, and stronger competitiveness compared to China and the United States.