Europe's Wealthy Back Push to Cut EU Red Tape, Survey Finds

A large majority of European millionaires believe the European Union must reduce its bureaucratic burden, according to a new survey. Some 86 percent of high-net-worth individuals polled said the EU should streamline its regulatory framework, reflecting growing frustration among business elites with administrative overload. The findings come as the EU faces mounting pressure to boost its global competitiveness, particularly in light of economic challenges posed by rivals such as the United States and China. Critics of current EU policy argue that excessive regulation stifles innovation and investment, while supporters of stronger oversight warn that deregulation could undermine worker protections and environmental standards. The survey adds a data point to an ongoing debate within EU institutions about how to balance economic dynamism with the bloc's broader social and regulatory goals.