9 April 2024
We are launching a new economic agenda for tackling monopoly power called "Rebalancing Europe", together with allies across Europe.
In June, millions of Europeans will be called upon to vote in elections that will determine the course and character of European democracy for years to come.
This manifesto sets out a roadmap for reimagining the mission, structure, and powers of the European Commission and European Parliament to restore freedom, opportunity, and prosperity to all its citizens by reining in and dispersing concentrated economic power.
For too long, the EU hesitated as a handful of powerful corporations gained strangleholds over the very heart of our economic life: our core communications and commercial technologies, essential goods, and critical supply chains. Hundreds of major corporate mergers went unchallenged, leading to serious and growing corporate concentration. This concentration has severely weakened Europe's power to provide for its citizens and defend their rights and freedoms.
It has also made us dependent on unaccountable, even hostile, corporate and state actors. Many of our critical industries – such as finance, energy, transportation, and pharmaceuticals – are controlled by a few giants. This harms Europe's entrepreneurs, small businesses, workers and consumers; the EU now struggles to innovate, prosper, and deliver for its citizens.
A more ambitious and joined-up approach to tackling monopoly power is now needed.
For comment: Dr Johnny Ryan, Director of Enforce & Senior Fellow
For media queries: ruth.mccourt@iccl.ie / +353874157162
