Jumpstarting European industrial policy: a European Sovereignty Fund

Roundtable

EVENT

Friday, 27 January 2023

EVENT PARTNERS

Moderator(S)

Philipp Lausberg
Policy Analyst, Europe’s Political Economy Programme, European Policy Centre

The COVID-19 pandemic and Russia’s invasion of Ukraine have put the EU’s geo-economic vulnerability into stark focus. Value chain disruptions and rising energy prices - the consequences of the EU’s over-dependence on politically unreliable suppliers - have highlighted the need for greater strategic autonomy. At the same time, the EU has been struggling to keep up with the US and Chinese bids for technological and industrial leadership. An increasingly hostile trade environment has put Europe’s industrial base in jeopardy. This has increased the urgency to strengthen the continent’s economic security and accelerate its green and digital transition. The COVID-19 pandemic and Russia’s invasion of Ukraine have put the EU’s geo-economic vulnerability into stark focus. Value chain disruptions and rising energy prices - the consequences of the EU’s over-dependence on politically unreliable suppliers - have highlighted the need for greater strategic autonomy. At the same time, the EU has been struggling to keep up with the US and Chinese bids for technological and industrial leadership. An increasingly hostile trade environment has put Europe’s industrial base in jeopardy. This has increased the urgency to strengthen the continent’s economic security and accelerate its green and digital transition.

Unprecedented challenges call for unprecedented volumes of investment. At her 2022 state of the Union speech, Commission President von der Leyen called for a European Sovereignty Fund to “make sure that the future of industry is made in Europe”. Similarly, the EPC has proposed the establishment of a new European financing facility in a recent op-ed. As commissioner Breton has stressed, such a fund could boost the development of strategic infrastructures, technologies, and manufacturing capacity, while preserving the integrity of the Single Market, avoiding the traps of duplication and fragmentation of member-state financing. It could provide equity investment for SMEs and high-tech start-ups central to EU sovereignty and to a successful green and digital transition.
This in-person workshop will discuss the following questions:

1. What should the priorities of a European sovereignty fund be?
2. How should it be designed?
3. How should it be financed?
4. Who should qualify for investment?
5. How should it be managed?
6. What are the institutional, legal, and political obstacles and constraints?

The roundtable will be held under Chatham House Rule. Participants will take part in a closed-door discussion at the EPC’s premises (Rue du Trône, 14-16, Brussels).

This event is upon invitation only. If you are interested in participating, please contact Evin Jongen-Fay. As seating is limited, registration will be on a first-come, first-served basis.

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