EU competition chief signals rules overhaul

The new EU competition chief said on Tuesday that the bloc 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 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 bloc would introduce a new state aid regime to speed up investments in green projects.