Commissioner Michael McGrath
EU Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection
In a more fragmented and uncertain world, Europe’s competitiveness is no longer optional – it is strategic.
Our strength derives from a competitive economy here in Europe. This is why the European Commission is acting decisively to help businesses start, scale up, and succeed. This year, my mission is clear: to back Europe’s entrepreneurs with simpler rules, faster procedures and a genuinely integrated Single Market.
The Competitiveness Compass sets the direction: delivery is now the priority. Since its publication in January 2025, we have moved from strategy to action, reviewing the EU’s legislative book and presenting the so-called “omnibus” proposals to address barriers in key areas where rules were deemed inefficient, overly complex or redundant. We are modernising company law by delivering digital solutions, standardising rules for cross border restructuring, reducing reporting obligations, and introducing a new EU Company Certificate to act as a European corporate identity card. Together, these changes sharpen Europe’s edge and strengthen our capacity to compete.
Competitiveness will define 2026 and will see the delivery of one of the flagship initiatives under my portfolio: the 28th regime. This framework will introduce an optional EU-wide corporate law regime available to companies across the Union. For Irish companies that choose the 28th regime, this means they will be able to rely on a single, coherent EU rulebook, making it easier to operate and scale across borders. By reducing fragmentation, and increasing legal certainty, the 28th regime will make European companies more attractive to both EU and non-EU investors. Clear, common rules create predictability and predictability attracts investment.
Strong partnerships are essential to Europe’s economic strength. In this context, the EU-US relationship remains one of the most important strategic assets, delivering economic benefits on both sides of the Atlantic. By fostering fair and open trade, enabling trusted cross-border data flows, deepening collaboration on research and development, and streamlining transatlantic business operations, we can create mutually beneficial outcomes. Ireland is not just a bridge – it is Europe’s most connected gateway to the United States. With deep cultural, economic and business ties to the US, Ireland is uniquely placed to support American companies seeking to grow and scale in the EU Single Market. It’s important to remember this is a two-way street: EU companies must also tap into the innovation, capital, and networks the US offers. Meeting our shared challenges requires close cooperation, and the EU-US partnership remains at the heart of this effort.
Europe is rich in ideas, talent and resilient businesses. Ireland alone has over 400,000 active enterprises contributing to innovation and growth. While each national business landscape is different, the rules should not be. With 450 million citizens, Europe’s unique strength lies in our capacity to innovate, expand and cooperate within and beyond our borders. The 28th regime, alongside our wider simplification and competitiveness efforts, will be central to building a stronger and more competitive European Union. As the United States approaches its 250th anniversary and Ireland prepares for its upcoming EU Presidency, this moment offers a powerful opportunity to deepen transatlantic ties and help shape Europe’s future.