NFU Press Release: State of the European Union address 2026 – Europe’s resilience must go hand in hand with fair rules and strong protections for employees

Nordic Financial Unions (NFU) welcomes the strong emphasis in President Ursula von der Leyen’s State of the European Union address on a more independent, resilient and united Europe. At the same time, NFU stresses that competitiveness and simplification must not become vehicles for deregulation or weaker labour and sustainability standards.

Carin Hallerström, NFU General Secretary, said:

“At a time of profound geopolitical, economic and climate challenges, we share the conviction that Europe must be able to act with clarity, speed and purpose. A Union rooted in solidarity, capable of defending its values and safeguarding its future, is vital for citizens and employees alike.”

NFU strongly supports the renewed focus on climate adaptation. The announced alliance on climate insurance is particularly relevant for the Nordic financial sector: narrowing the protection gap and improving access to insurance are essential to protecting households, businesses and communities as extreme weather becomes more frequent.

NFU supports the message that Artificial intelligence should assist rather than replace professionals. Europe can lead in AI while maintaining guardrails, security and human agency. For financial-sector employees, this means ensuring that the deployment of AI supports quality jobs, skills development and responsible innovation, with workers involved in how new technologies are introduced. A directive in the area of AI at the workplace, mirroring the rights prescribed in the Platform Directive would help to make this a reality.

NFU welcomes the ambition to strengthen Europe’s banking sector and its capacity to finance growth and investment. But bank competitiveness is not a goal in itself. It must translate into greater support for the real economy, sustainable transformation and quality jobs. A greater appetite for risk must also be approached with care: financial stability is a foundation of competitiveness, and less security and more risk can only serve the greater good within a clearly defined and responsible framework.

However, NFU remains concerned about the direction of the EU’s simplification agenda. President von der Leyen highlighted the Omnibus packages as tools to boost competitiveness. NFU’s Head of EU Affairs, Anna-Delia Papenberg, cautioned that simplification must not turn into a broader deregulation drive that weakens Europe’s achievements on responsible business, sustainability and transparency.

“Competitiveness should come from better implementation, smart regulation, investment and innovation, not from lowering standards. Simplification can reduce unnecessary complexity, but it must preserve the rules that underpin trust, fair competition and sustainable finance,” said Anna-Delia Papenberg.

NFU also notes the continued work on a possible “EU Inc.” alongside the Savings and Investments Union. While a voluntary European framework could help innovative companies scale across borders, its scope must be carefully defined. It must not create a parallel route for bypassing labour standards, reporting requirements, collective rights or social safeguards. Innovation and mobility across the Single Market should strengthen Europe’s social model, not fragment it.

The announced Congress of Europe, intended to bring together thinkers to consider Europe’s future ahead of the 70th anniversary of the Treaty of Rome, can provide a useful forum for long-term reflection. NFU believes workers and social partners should have a meaningful voice in that debate, ensuring that Europe’s future is shaped not only around markets and institutions, but also around good jobs, social cohesion and democratic participation.

The Nordic model of cooperation also offers a compelling contribution to Europe’s future. Built on trust, dialogue and the ability to work across borders, it reflects an idea of Europe worth renewing: a shared destiny of peace and prosperity, democracy and freedom, and an unwavering commitment to the rule of law. For NFU, these values are not only Europe’s inheritance; they are the foundation on which a more resilient, competitive and united Europe should be built.

For NFU, the central message is clear: Europe needs greater capacity to act, invest and protect itself. The strongest route to competitiveness is a resilient Union that combines security, climate preparedness, innovation and investment with high-quality regulation, social dialogue and strong protections for workers.