The necessity for key reforms to Europe’s regulatory environment, particularly in its member states, was underlined by EIB President Werner Hoyer at the OMFIF think tank’s breakfast discussion called “The changing role of Europe in a world of transition". The discussion  took place in Washington DC alongside the 2016 Annual Meetings of the IMF and the World Bank Group.

Werner Hoyer told the gathering that more than ever Europe needs to show it can work collaboratively. “The need to take action to address investment shortcomings, through the EIB, is one of the ways in which we are, as a Union, really moving forward and taking action together,” he said.

But he added that fixing the regulatory environment was also essential for the Investment Plan for Europe to work: “The plan to relaunch investment has three parts, and they must all work for the plan to succeed. Regulatory reform is essential to enhance incentives to invest. Modernising regulation will raise growth and improve Europe's resilience to future crises."

President Hoyer underlined, “the Brexit vote is a wake up call for Europe. It makes it urgent that we demonstrate that European collaboration works and that it is the best way of dealing with many of the common issues we face.”

Full speech