Sigma Live

Damianos: Vision is an Autonomous Europe Through Competitiveness

Published February 26, 2026, 12:10
Damianos: Vision is an Autonomous Europe Through Competitiveness

Minister of Energy, Commerce and Industry, Michalis Damianos, emphasized the need to strengthen competitiveness as a prerequisite for a more autonomous Europe, during the Competitiveness Council. Mr. Damianos stated that the general vision is “an autonomous Europe through competitiveness” and that the Union must strengthen its advantages, identify new avenues for development and reduce its strategic dependencies. Particular emphasis was placed on the European Competitiveness Fund (ECF), with the Minister highlighting the importance of supporting the 26 million SMEs operating in Europe and employing more than 90 million workers. In addition, reference was made to the EU’s industrial capacity, with discussions focusing on the sectors of steel, chemicals and automotive, with the aim of strengthening global competitiveness. A significant part of the discussion concerned consumer protection, with Mr. Damianos emphasizing that the 100 million consumers in the EU represent more than 50% of the Union’s GDP. Ministers are expected to approve conclusions on the Consumer Agenda 2025-2030, which sets out four key priorities: completing the single market, strengthening digital fairness, promoting sustainable consumption and ensuring effective enforcement. Finally, the ECF, one of the main elements of the next Multiannual Financial Framework, and the Annual Report on the Single Market and Competitiveness were discussed. Ministers exchanged views on emergency plans regarding industrial resilience and on monitoring industrial action plans for the steel, automotive and chemical sectors.