European Election: Europe needs our vote!

Europe faces an important choice. This week, over 400 million citizens from the 27 European Union (EU) Member States will be able to elect a new European Parliament. In a year when nearly half of the global population is being called to vote in some form, and the world is faced with multiple crises, these elections come at a critical time.

In this context, it is easy to lose sight of the fundamental values and goals upon which the EU was founded: the common pursuit of economic stability and prosperity, driven by scientific curiosity and innovation as the engine of social progress and thus as a sustainable basis for peace and security.

Europe is losing its competitiveness

At a time when geopolitical tensions are high, our common values and aims are becoming an ever more precious asset. And yet, they are increasingly at risk. Extreme nationalism and protectionism, both internationally and domestically, are on the rise. And with pressures intensifying, the EU is losing its competitiveness and resilience at the time it needs them most.

As an entrepreneur, a father, and a passionate European, I am deeply concerned about this. The diversity of our societies and the process of European integration, choosing to tackle some of the greatest challenges together and not separately, have made the EU a unique model. They are a prerequisite for greater societal cohesion, economic strength, and sustainable development.

One of the EU's major challenges is to strengthen European competitiveness while shaping Europe's economy in line with the digital and green transitions. The task is immense - especially as industry in the EU has been severely challenged in recent years by high inflation, labour shortages, supply chain disruptions, rising interest rates and rising energy prices. Europe has proven itself time and again in the crises of recent years. But I firmly believe that Europe can and must take a more strategic approach in some key areas that will determine its future role in the world. In addition to technology, digitalisation and the energy industry, these areas include life sciences and pharmaceutical research and development. 

Once the 'pharmacy of the world', Europe has gradually been losing its leadership position, and the consequences have been significant. Twenty-five years ago, Europe developed half of the world's new medicines; today, it develops less than a fifth. Europe's share of global clinical trials is declining, particularly for innovative treatments such as personalised cell, gene and tissue therapies. Countries such as China and the US have overtaken the EU by offering more attractive investment conditions and ensuring faster approvals, allowing patients to benefit earlier from scientific advances and innovative therapies.

Europe elects: Our vote can help to make a better Europe

Europe can regain its leadership in this field by, for instance, establishing future-proof, innovation-friendly frameworks, promoting clinical research more effectively, respecting intellectual property as a driver of innovation.

Aligned with the EU's goal of "Open Strategic Autonomy" and recent calls by the EU’s Heads of State and Government to bolster competitiveness and reduce strategic dependencies, now is the time to reclaim Europe's position as a global leader. The recently adopted “Antwerp Declaration” for a European Industrial Deal, complementing the EU’s Green Deal, is a positive step forward. I am confident that more initiatives will follow as the future EU leadership sets its strategic agenda for 2024-2029.

Together we can make Europe better and stronger. Europe has been, and remains, the right choice. Our vote can help create a better and stronger Europe. Don’t use your vote against Europe – use it for Europe!


(This Op-Ed was first published in the German Business Daily Handelsblatt.)