EUROPE needs to focus on liberalising its economy to boost competitiveness now that political integration has stalled, Latvia’s Economics Minister said yesterday. Mr Karins said: “Now is a time to rethink and often that’s a good time to go back to the basics, and the basics of Europe are about an open common market. Maybe it would be easiest to focus on the Lisbon agenda and to let the issue of the constitution settle.” Latvia (a mini EU nation of of 2.3 million people), where corporation tax is now just 15 per cent, is one of the strongest advocates of open markets in EU and is seen as a “new Europe” ally of the UK. Mr Karins, who is visiting Britain to promote Latvian business, said: “If Europe doesn’t enact the reforms that it needs, to open its markets more, there could come a time in the future when economic development for all of Europe could be hampered.”
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