European businesses are increasingly concerned about the EU's growing regulatory and reporting requirements, which they say hamper competitiveness and productivity.

The combination of high energy prices (well above those in the US) and stringent sustainability and compliance requirements is putting pressure on several industries, and small and medium-sized enterprises (SMEs) in particular.

While the European Union aims to reduce reporting obligations by 25%, the challenge is to balance simplification with maintaining the core objectives of its laws, such as climate and human rights standards. These concerns echo key findings of the Draghi report, which highlighted the EU's struggles with productivity and global competition.

To dig deeper, host Evi Kiorri was joined by Euractiv's Berlin-based economy reporter Jonathan Packroff.