Teresa Ribera, Executive Vice-President, delivered opening remarks at the International Bar Association Conference in Florence, addressing the challenges and transformations facing competition policy amid ongoing geopolitical and technological shifts.
Context of the Speech Ribera framed the current era as one of rapid change, transitioning from globalization to a more balanced interplay between global and local influences. She highlighted rising protectionism, strained supply chains, and the critical need for resilient markets in Europe. Her address advanced the idea that competition policy is not only a regulatory goal but a vital tool to promote productivity, innovation, and market openness.
Dual Approach to Enforcement A key proposal emphasized by Ribera is the modernization of competition policy through a blend of "hard" enforcement — including fines and structural remedies — and "soft" tools such as cooperative dialogues and guidance. Examples cited included the Microsoft Teams commitments to prevent abusive bundling practices and the Digital Markets Act's regulatory engagements with dominant digital platforms. This approach aims to encourage early compliance, avoiding protracted investigations while retaining the option for sanctions when necessary.
Policy Orientation and Stakeholder Impact Ribera’s speech signals a shift toward increasing regulatory agility and transparency but maintains strong institutional enforcement powers. The combined methods seek to balance fostering business growth and protecting consumer choice. For digital platform gatekeepers and technology companies, soft enforcement could reduce litigation risks and encourage innovation-friendly behavior, yet hard enforcement remains a credible deterrent. Traditional industries, such as automotive and ports, benefit from clearer competition guidance aligned with strategic EU goals, while SMEs and consumers stand to gain from enhanced competition and market openness. Regulatory bodies and national authorities might face increased demands to coordinate under this dual enforcement system.
Future Plans Further measures include revisions to merger guidelines to incorporate innovation and resilience criteria, guided by extensive stakeholder consultations. The adoption of a State aid Framework to support clean technologies illustrates a move toward integrating competition enforcement with broader economic and environmental objectives.
In sum, Ribera’s speech delineates a nuanced competition policy evolution, seeking to enhance the Single Market’s adaptability and strength through a balanced, multi-tool regulatory approach responsive to contemporary economic realities.
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