An EU economic security strategy can only be supported if it strengthens European competitiveness

The European Parliament debated yesterday in its plenary session the European Economic Security Strategy, on the basis of which the EU would draft or amend several pieces of legislations. In her speech, Fidesz MEP Enikő Győri pointed out that “the European Commission must constantly consult with the Member States and should not forget to carry out a thorough impact assessment, without which it is extremely risky to come forward with any legislative proposal. We need to know exactly how these proposals would affect our competitiveness and business environment. The well-being of European citizens is at stake and jobs could be lost if we do not return to economic rationality.”

The FDI screening regulation – in force for three years – would also be amended. MEP Enikő Győri warned: “We do not have enough information yet, to assess the effectiveness of the regulation, so prudence is advised. However, it is clear that extending the Commission’s powers is not the way forward, as national security falls within the competence of the Member States. This must be respected.”

“At the heart of the strategy is the questioning and limiting of our relations with one of our biggest trading partners. This is not an option. Europe is not in a position to label investments and alienate its partners. In the end, there will be no one left who’s willing to do business with us. It is connectivity, not isolation, that serves our interests. I would also advise being cautious when it comes to monitoring outbound investments. They should only be restricted as a last resort.” warned MEP Enikő Győri.