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Copyright

Paolo Guerrieri; Pier Carlo Padoan;

Published On

2024-12-11

Page Range

pp. 135–148

Language

  • English

Print Length

14 pages

8. Industrial Policy and Security

The European Union and the Double Challenge: Strengthening Competitiveness and Enhancing Economic Security

  • Paolo Guerrieri (author)
  • Pier Carlo Padoan (author)
Chapter of: Investing in the Structural Transformation: 2024 European Public Investment Outlook(pp. 135–148)
This chapter argues that the European Union’s (EU) dual challenge— enhancing both competitiveness and economic security—must form the core of its open strategic autonomy framework, which integrates national security considerations with economic policy. The chapter explores the vulnerabilities and strengths of the EU’s industrial and technological strategies, emphasizing the need for deeper European integration and more robust governance to meet these challenges. Central to this effort is the provision of European public goods (EPGs), such as climate policy, energy security, and technological development, which require stronger EU-level governance and financial resources. To ensure long-term resilience and relevance in a fragmented world, Europe must undertake a profound restructuring of its economic governance and enhance its strategic autonomy.

Contributors

Paolo Guerrieri

(author)
Visiting Professor at PSIA, Paris School of International Affairs at Sciences Po, Paris

Paolo Guerrieri is Visiting Professor at PSIA, Paris School of International Affairs, Sciences Po, Paris. He was Professor of Economics at the University of Rome “La Sapienza” and Visiting Professor at the College of Europe, Bruges (Belgium) and the USD Business School, University of San Diego, California.

Pier Carlo Padoan

(author)
Full Professor of Economics retired at Sapienza University of Rome

Pier Carlo Padoan who has been Italian Minister of Economy and Finance and Member of the Chamber of Deputies of the Italian Republic, is Chairman of UniCredit since April 2021. He is Full Professor of Economics retired at the La Sapienza University of Rome. He is currently Vice President of Istituto Affari Internazionali, Board member of the Institute of International Finance, a member of the Luiss Institute for European Analysis and Policy, and a member of the BoD and Executive Committee of ABI. In 2021 he was also appointed member of the Board of Istituto Luigi Einaudi and of the Committee for Corporate Governance of Borsa Italiana. He is currently a member of the European Financial Services Round Table, and of the Executive Committee of Assonime. In May 2022 he became Chairperson of the High Level Group on Financing Sustainability Transition, which is part of the High Level Groups on EU Policy and Innovation. He has been Deputy Secretary General and Chief Economist of OECD and Executive Director of the International Monetary Fund. He has held academic positions at the University of Rome, College of Europe (Bruges and Warsaw), Université Libre de Bruxelles, University of Urbino, Universidad de la Plata, Chulalongkorn University and University of Tokyo.