When the EU's energy ministers gathered in Luxembourg on Tuesday, they discussed the report by Italy's former Prime Minister Mario Draghi on EU's competitiveness. According to Draghi, enormous investments, both private and public, are needed to prevent the EU from falling further behind competitors like China and the USA.
Although Sweden is traditionally skeptical of, for example, large state subsidies, Busch notes that global competition requires Sweden to "adapt to participate in a competition to be the most pure market liberals".
"A bit smarter"
It's not a level playing field globally. We have extremely unfair competition from China and from our friends in the USA. In this geopolitical situation, we need to decide: are we going to let all civil infrastructure fall into the hands of foreign powers? says Busch in Luxembourg.
Here, we need to find another way to navigate forward, which is still frugal and still holds back state subsidies. But Sweden sitting on the sidelines and just saying no will not benefit Swedish interests. We need to be a bit smarter than that, says Busch.
No aid to Northvolt
She hopes for reduced bureaucracy and faster permit processes to help, in the long run, companies like the crisis-stricken Northvolt. She is also open to the idea that battery production can be a sector so strategically important that it needs to be supported in the EU.
However, there will be no short-term Swedish support.
That would be irresponsible towards Swedish taxpayers, says Busch in Luxembourg.
