Spain’s Teresa Ribera is poised to become the second most influential person in the upcoming European Commission, surpassed only by President Von der Leyen. As the newly appointed Executive Vice-President for a “Clean, Just and Competitive Transition”, Ribera will wield significant power over environmental policy implementation and the crucial competition portfolio.
With a distinguished career spanning law, academia, and civil service, Ribera brings a wealth of experience to her new role. Her expertise in climate change and energy, together with her role as Spain’s Vice President since 2020, positions her as a key player in shaping the future of EU policy.
Her role in the next Commission
In an interview with the Spanish newspaper El País, Ribera outlined her ambitious agenda. Despite anticipated resistance from some member states, Ribera aims to overhaul competition regulations: “From now on, the idea is to be able to devote public resources to incentivising competitive industries. And to ensure a level playing field for all actors. The rules need to be rewritten with these clear principles.”
However, Ribera is cautious about the notion that creating European champions is the answer to the EU’s competitive challenges: “Europe’s competitiveness is not solved by (creating) three or four European champions. We need size to compete in international markets, but we also need the internal market to work with a business ecosystem where things are reasonably balanced.”
Ribera’s mission letter outlines several key objectives for her tenure. She is tasked with developing a new State aid framework to accelerate the green transition across the continent. Additionally, she is expected to simplify State Aid procedures wherever possible. These measures aim to facilitate government investment in strategic European industries.
Another crucial aspect of Ribera’s role will be addressing the risk of “killer acquisitions.” This involves preventing foreign companies from acquiring European SMEs and small midcaps that they perceive as potential future competitors. This initiative is designed to protect and nurture European innovation and competitiveness.
Ribera is also expected to play a significant role in ensuring swift and effective enforcement actions against Big Tech companies under the Digital Markets Act. In this endeavour, she will work closely with Executive Vice President Virkkunen, combining their expertise to tackle the challenges created by Big Tech companies.
Lastly, Ribera will be at the forefront of combating foreign subsidies that distort competition with European companies. She will be responsible for enforcing new legislation targeting these subsidies, particularly on Chinese firms. This effort aims to level the playing field for European businesses in the global market.
Conclusions
Teresa Ribera’s appointment as Executive Vice-President marks a significant shift in the European Commission’s approach to competition and environmental policy. Her comprehensive background and bold vision suggest a more integrated strategy for addressing climate change, fostering fair competition, and protecting European interests in the global market.
Ribera’s agenda indicates a move towards active state involvement in shaping competitive industries. This approach could lead to significant changes in how the EU handles competition, state aid, and foreign economic influence.
As the EU faces increasing global competition and the urgent need for climate action, Ribera’s leadership will be crucial in determining the Union’s ability to adapt and thrive in a rapidly changing world.
