Editorial: El País

• Eurozone finance ministers are debating a document how to respond to firms' competitiveness problems due to the energy transition.
• The EU is working to bolster strategic autonomy and economic security, with a key focus on boosting European competitiveness and industrial policy.
• Recent global strife includes supply chain disruptions from COVID-19, global economic fragmentation, and escalating energy prices.
• Strong interest in recovering economic security lost through offshoring, with a focus on autonomy in strategic sectors and reducing dependence on a single energy provider.
• The EU has been left behind in comparison to the US in its efforts to bolster the economy by investing many billions into business and strategic sectors.
• European industrial policy has primarily been funneled through the Green Pact's Industrial Plan, without backing from specific instruments.
• Industry support is mainly handled by individual states, giving advantage to those with greater fiscal capacity.
• The European Commission estimates 620 billion euros of annual investments for the green transition and another 125 billion for digital efforts.

Conclusion: The EU has the necessary political and economic prowess to tackle this challenge but needs to expedite its decision-making process and integrate policies into a single program.

---