Source: European Parliament
ISSUES AT STAKE • The EU’s 2023 economic security strategy has not proved sufficient to face an increasingly confrontational geopolitical environment. A key priority for the current European Commission is therefore to advance EU policy addressing potential harms coming from Europe’s global economic links, to boost resilience and reduce dependencies. • The next step is to adopt a new doctrine by the end of 2025, switching up a gear from risk identification to risk mitigation, and providing clarity on the strategic and coherent use of the many possible instruments already in the EU toolbox, including guidelines on how and when to deploy them in response to specific risks. The Commission is currently in the crucial phase of identifying gaps, deciding which tools to include, and whether new instruments are needed. • While the new doctrine will be non-legislative, it presents an important opportunity for the European Parliament to shape the debate and articulate its position at an early stage: once adopted by the Commission, the doctrine will link and guide many policies over which the Parliament has legislative powers.