The Economics of European Sovereignty: EU competition policy in industrial policy

The new Commission aims to develop a new European industrial strategy. Some member states have called for EU competition policy to support this strategy by allowing the formation of 'European champions' that are better able to compete with US and Chinese corporate giants. Especially in digital technology sectors, where European firms are falling behind, this is increasingly viewed as a question of preserving Europe’s economic sovereignty. Kris Best analyses in this Policy Brief if the EU competition policy should feed into industrial policy and support 'Europeanchampions'? What reforms does EU competition policy need, if any?

Image: CC Maria Teneva, Source: Unsplash