Musk praises Draghi, requires much less EU crimson tape

In a report unveiled at the moment, Draghi proposed assessing current EU guidelines in the beginning of every European Commission mandate to make sure that European firms aren’t penalized by extreme regulation.

“This course of ought to embrace simplifying and eradicating overlap and inconsistencies throughout the entire ‘legislative chain,’ with precedence given to these financial sectors the place Europe is especially uncovered to worldwide competitors,” Draghi, who’s additionally a former Italian prime minister, wrote in his report.

He additionally proposed to nominate a devoted new “Commission Vice President for Simplification” to supervise the method.

In the previous, France and Germany have additionally repeatedly referred to as on Brussels to cut back the so-called regulatory burden. Outgoing French Economy Minister Bruno Le Maire proposed to undertake a devoted EU directive to simplify current guidelines and minimize crimson tape throughout completely different sectors.

Musk’s aversion to EU guidelines is not shocking; final yr, the Commission launched a probe into X’s compliance with the bloc’s content material moderation rulebook, the Digital Services Act.

“Things must be default authorized, slightly than default unlawful,” Musk argued in his publish in help of Draghi, whom he additionally quietly met in Rome final yr.