Ribera Calls for Reform in EU Competition Policies

The European Union’s newly appointed competition commissioner, Teresa Ribera, has emphasized the need to update the bloc’s competition policies to better accommodate innovation and emerging markets.

Speaking at a conference in Brussels on Tuesday, Ribera outlined a vision aimed at ensuring Europe remains competitive in a rapidly changing global economy.

According to the Wall Street Journal, Ribera highlighted the importance of evolving competition rules to align with future market needs. “European merger and antitrust policies are key tools to keep markets fair. And already today, when we assess merger and antitrust cases, we take innovation, resilience, and sustainability into account,” she stated during her address.

Ribera underscored the necessity of forward-thinking reforms, stressing that regulatory decisions should not only address current market conditions but also anticipate future developments. “We must go further, because our decisions are not only about today’s market but also tomorrow’s,” Ribera remarked, adding that innovation and competition in sectors such as energy, defense, and space will require particular attention to bolster resilience.

Related: Teresa Ribera Prepares to Tackle Big Tech and Green Growth as EU’s Next Antitrust Chief

Additionally, the commissioner announced plans to introduce a new state aid framework aimed at accelerating green investments. This initiative reflects the EU’s broader strategy to support sustainable development and address the pressing challenges posed by climate change, as reported by the Wall Street Journal.

The push for reform comes as the EU grapples with maintaining its competitive edge while navigating the complexities of digital transformation and global sustainability goals.

Source: The Wall Street Journal