evidence: Finance ministers from Germany, Austria, Switzerland, Liechtenstein, and Luxembourg met in picturesque Vorarlberg, Austria, to adopt the so-called "Lake Constance Declaration". This landmark declaration aims to strengthen Europe's competitiveness in a rapidly changing global economy while safeguarding the continent's prosperity and stability. [...] The Lake Constance Declaration was adopted by the finance ministers of Luxembourg, Switzerland, Liechtenstein, Germany, and Austria on August 13, 2024, in Lochau, Austria. It emphasizes the need for a holistic financial and economic policy to strengthen Europe's competitiveness in the face of global challenges such as geopolitical changes, productivity gaps, and demographic change. The declaration was only adopted in German. Important points of the declaration include: [...] The declaration thus sets clear priorities for economic policy cooperation in Europe in order to effectively tackle challenges and ensure the future viability of European economies. The Lake Constance Declaration marks a significant step in the cooperation between the German-speaking countries and provides an important impetus for the future of Europe. It shows that the challenges of the future can only be mastered through united efforts and a consistent economic policy orientation.