On 17 June 2026, European Commission Executive Vice-President Teresa Ribera, speaking at the European Competition Forum in Brussels, called for a modernisation of EU competition policy to address growing geopolitical tensions, technological concentration, and inequalities. Ribera argued that traditional efficiency-focused competition tools must evolve to ensure prosperity, security, and democratic accountability in a world where economic, technological, and geopolitical power are increasingly intertwined.
Ribera highlighted that since the Commission took office 562 days ago, tensions between major powers, threats to multilateralism, and an accelerating AI race have reshaped the global landscape. She noted that 26 trillion of the 42 trillion in wealth created since 2020 was captured by the top 1%, and that access to semiconductors and energy prices are now used as geopolitical weapons. The speech did not announce new legislative proposals but outlined a policy orientation toward updating existing instruments, including the Clean Industrial State Aid Framework, the Digital Markets Act (DMA), the Foreign Subsidies Regulation, and the ongoing review of Merger Guidelines. Ribera emphasised that competition policy must support both contestable markets and Europe's long-term competitiveness, citing the recent imposition of interim measures on a company to ensure competing AI chatbots can access customers via WhatsApp without private fees as an example of speedy enforcement.
Ribera stressed that efficiency alone is insufficient, as digital markets concentrate economic, technological, and informational power in few hands, and AI accelerates this trend. She argued that Europe cannot remain prosperous if it becomes technologically dependent, and that the DMA aims to preserve contestability before markets close. On State aid, she noted that the Clean Industrial State Aid Framework frames public support around clean energy and reducing strategic dependencies, while the Foreign Subsidies Regulation protects the level playing field externally. She also pointed to Important Projects of Common European Interest (IPCEIs), with approved State aid and expected private investment exceeding €92 billion, and a future IPCEI on AI involving 18 Member States. However, Ribera acknowledged that competition policy alone cannot create venture capital or finance scale-ups, calling for a completed Single Market and integrated European capital market to allow innovative companies to scale in Europe rather than abroad. She urged Member States to support cross-border mergers of large European banks for the overall good.
The speech reflects a moderate shift toward integrating industrial and geopolitical considerations into competition enforcement, while reaffirming core principles of openness, fairness, and rule of law. Ribera's call for a more holistic merger analysis that considers efficiencies, innovation, and global competition contexts suggests a move away from a narrow efficiency standard. The speech did not specify new numerical targets or deadlines, but it signals a continued evolution of EU competition policy under the current Commission.
Stakeholder impact: For large digital platforms, the emphasis on DMA enforcement and interim measures could mean increased regulatory scrutiny and compliance costs, particularly in AI-related markets. European startups and scale-ups may benefit from improved access to funding and a more contestable digital market, but remain dependent on broader Single Market reforms. National competition authorities gain a clearer mandate to consider geopolitical and resilience factors, potentially expanding their analytical scope. EU consumers could see more competitive digital services and lower prices, though the impact depends on effective enforcement and market integration. The speech did not address potential trade-offs, such as the risk of over-regulation stifling innovation or the challenge of balancing State aid with fiscal discipline.
Importance score: 65