The new European Sovereignty Fund, expected to finance multi-country projects of European importance for the green transition, is key to the Commission's game plan to counter foreign subsidies. Yet days before its expected proposal, some query if it is already falling short.
Internal Market Commissioner Thierry Breton renewed his call for a broad European Sovereignty Fund to finance companies in strategic sectors, and help buy specific firms of “systemic importance” at a French parliamentary hearing on Thursday (1 June).
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The European Commission’s proposal for a Net-Zero Industry Act (NZIA) received broad support from EU ministers in charge of competitiveness on Monday (22 May), but unresolved conflicts on nuclear power and EU-level financing could make the upcoming negotiations difficult.