Meeting of German-speaking finance ministers
The five finance ministers of the German-speaking countries adopted the Lake Constance Declaration to strengthen competitiveness.
At their meeting in Lochau, Austria, the finance ministers of the German-speaking countries adopted the Lake Constance Declaration in order to strenghten competitiveness.
Liechtenstein’s Prime Minister Daniel Risch, Swiss Federal Councillor Karin Keller-Sutter, and Christian Lindner, Magnus Brunner and Gilles Roth – the Finance Ministers of Germany, Austria and Luxembourg respectively – attended the meeting on August 13, 2024.
The ministers explored ways of strengthening competitiveness and budgetary policy issues in the context of geopolitical developments, financial market regulation and international tax policy. These discussions resulted in the adoption of the Lake Constance Declaration.
The Declaration is focused on strengthening Europe’s competitiveness. It covers specific topics that will be key to ensuring Europe remains competitive as a location for business, creating new jobs and preserving the prosperity of the European population. It commits to removal of bureaucratic obstacles and increased use of digital management solutions. In terms of trade relations, the aim is to achieve greater diversification of trading partners and more flexible supply chains. Another important focus is on strengthening capital markets and creating a capital market union at EU level.
“As a full member of the EU internal market with a strongly export-focused national economy, Liechtenstein believes that further strengthening of political and economic cooperation within Europe is key to Europe’s success,” says Daniel Risch.
