Europe needs to unify its fragmented telecoms and radio spectrum landscape, Finance Minister and Eurogroup President Kyriakos Pierrakakis argued in a Financial Times opinion piece on Tuesday, in which he proposed a European Spectrum Union.

“To create wealth, Europe must reap the dividends of radio spectrum,” Pierrakakis said, noting that the EU cannot expect its telecoms companies to compete on a global level when it continues to organize one of its most strategic sectors on a national basis.