After the informal meeting of the European Council in Budapest, Federal Chancellor Olaf Scholz held a press conference in which he set out the central topics covered by the talks. 

The key facts:

• Transatlantic relations: The Federal Chancellor stressed that the US is Europe’s most important ally. As Europeans, we are committed to “forging deeper transatlantic relations”, he said. The close collaboration with the US and the incoming US President were vital for peace and security in Europe and around the world, Scholz said.
• Investment: Scholz praised the unity between EU states with regard to achieving greater and more effective investment in Europe’s defence industry. This investment was a fundamental contribution to the safety and security of the continent, Scholz said. He also stressed that boosting competitiveness and growth in the EU was a matter of central importance to Germany’s Federal Government. Scholz outlined how improved legislation, culling regulations and reducing the reporting burden on businesses were at the core of this fundamental restructuring.
• Partnerships and clearing away unnecessary bureaucracy: According to the Federal Chancellor, one of the most important tasks facing the new EU Commission which is expected to take office on 1 December this year is to deliver a new agenda for jobs, industry and prosperity in Europe. Clearing away unnecessary bureaucracy was essential to ongoing economic growth in Europe, Scholz said, adding that he expected tangible developments in this area from the EU Commission within the first six months of 2025. In his remarks in Budapest, the Federal Chancellor also underlined the need for the EU to make progress on and swiftly conclude negotiations on trade partnerships.

You can read a transcript of the press conference here (only German)