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EU needs to reform its competition rules, says commissioner

New state aid regime to speed up investments in green project to be introduced

Teresa Ribera, competition commissioner of the European Commission. Ms Ribera has said that the EU needs to reform its competition rules. Photograph: Ksenia Kuleshova/Bloomberg
Teresa Ribera, competition commissioner of the European Commission. Ms Ribera has said that the EU needs to reform its competition rules. Photograph: Ksenia Kuleshova/Bloomberg
Javier Espinoza
Tue Dec 10 2024 - 10:17

The new European Union competition chief said on Tuesday that it needs to reform its competition rules to take into account “innovation and future markets”, as Brussels seeks ways to remain competitive.

“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,” said Teresa Ribera, commissioner for competitiveness, in a speech at a conference in Brussels.

“But we must go further, because our decisions are not only about today’s market but also tomorrow’s. So, we should take full account of innovation and future competition, while also considering the need for resilience in certain sectors, such as energy, defence, and space.”

She also said the EU would introduce a new state aid regime to speed up investments in green projects. - Copyright The Financial Times Limited 2024

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