Ribera, who as executive vice-president ranks second to Commission President Ursula von der Leyen, is implementing a policy of distrust in the 27-nation community. European business “champions” which can hold its own against world-beating Chinese exporters and US tech giants.
The Spanish commissioner said that the restructuring of industrial sectors such as telecommunications was prevented by the division of national markets, and not by the union laws of the community.
“It needs to be proven that there are benefits that we will be enjoying in the future. And not only: I want to be big,” he said.
Ribera also issued a strong warning to member states who are tempted to use the new stability guidelines and security discrimination to choose local winners.
“We also invite the national competition authorities and national governments to make a limited understanding of what this could mean,” he said.
His remarks follow Italy’s intervention in Milan UniCredit’s bid for local rival Banco BPMand conditions imposed by the Spanish government BBVA attempts to acquire Sabadell. Both initiated legal proceedings with the Commission on the grounds that the respective governments were in breach of EU rules on freedom of establishment and movement of capital.
