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Thursday, March 23, 2023

Seven EU countries urge Brussels to ease tensions with Biden

Not a week goes by when the US subsidy package of 369,000 million euros doesn’t spark some debate or some reaction in Brussels. There is a desire to provide community feedback. Rather, the criticism is in how it is given. France’s leading voice now dominates it in a similar measure seven member states Those who are hopeful for a more cautious position, though not more fearful.

Austria, Finland, Denmark, Ireland, Slovakia, the Czech Republic and Estonia rejected an appeal to the European Commission to avoid tensions with the United States and in parallel mobilize more financing with a similar package of subsidies to European industry . one that economies like American but also Chinese Make it available to companies.

The message of these seven member countries is based on abstinence “Unnecessary” Business Stress Along with the United States, a country they consider “a particularly important partner for the European Union”, according to a letter sent by the economy and finance ministers of these seven countries to the European Commission’s economic vice-president, Valdis Dombrovskis, and whose Had access to The Economist.

The document rejects the implementation of “permanent”, “excessive” and “non-specific” subsidies, as it believes it threatens the egalitarian conditions of the internal market, in addition fiscal stability. And the list of warnings also includes the risk of “subsidy competition” that would not be sustainable for different member states.

Therefore, nor is it surprising that seven finance ministers have expressed their reluctance in the letter new community fund, An argument he supported in funding the redeployment plan that has not yet been disbursed and under the RePower EU plan.

The view that there is no need for a new fund for the EU was expressed earlier this week by Dutch Prime Minister Mark Rutte, who embodied the EU’s position. frugal country He advocated changing national policies and argued that there is currently enough money available to countries.

Scanning the Community horizon, France has been the main advocate of providing European industry with an aid package similar to the American one. Germany was also in favor of the EU to give rise to new joint financing instruments so that EU countries could compete with this Inflation Reduction Act (IRA) and provide a competitive advantage to products made in the United States. However the critical voices of some member countries make it ugly that these two countries can provide their industry help more than othersWhich aligns with the risks of rupture with these seven countries’ warnings and similar market conditions.

For now, the European Commission has suggested that the EU response should go through state aid or public assistance, a law for a zero-emissions industry and a relaxation of sovereign fund rules. In any case, it will be Community Executive this week will present their proposal It will be discussed at an extraordinary summit of leaders on February 9 and 10.

In this scenario, Spain on Friday asked the European Commission to implement accelerated procedures for the Next Generation Fund’s strategic projects, a reform that would be part of a relaxation of state aid rules. According to the document sent by Spain to Brussels, the aim is to achieve strategic autonomy in sectors such as energy, semiconductors, electric vehicles and critical technologies.

a european green industrial plan

According to a letter made public last week, the Vice Presidents of the European Commission: Margrethe Vestager, Valdis Dombrovskis and Frans Timmermans urged to avoid “tit for tit” in response to the US measure. Instead, he advocated innovation in the transition to zero-emission energy through a common industrial plan in line with the Green Deal. The plan should include four pillars: business environment, funding, training and business. “We urgently need private investment flow Since public money will not be enough”, he explained and added that Brussels would propose a sovereign fund to support strategic industrial projects.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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