DECRYPTION – The European Commission will propose measures in January, including a “European Sovereignty Fund”.
The discussions around the European recovery plan to 750 billion euros had been Homeric between the Member States. Those that are emerging on the plan to avoid the stall of European industry promise to be just as much.
A first exchange between the Twenty-Seven took place on Thursday, during the summit. The capitals are on a war footing because of the combined and devastating effect of energy prices which are expected to remain high and the American mega subsidy plan, the IRA. It was, underlines a European diplomat, “a long and productive debate on competitiveness, the strengthening of European industrial policy and the European response to the American IRA“. The leaders agree on at least one point: Europe must react quickly. Failing this, it will see industries slip away – notably towards the United States where energy is much cheaper – and will be left behind on innovation in key technologies.
“Not a fan of fresh money”
The Twenty-Seven have therefore asked the Commission to…
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