EU needs to better anticipate economic security risks

News

The EU has a much better understanding of economic security than it did a few years ago, but new technologies, geopolitical developments and forms of economic coercion continue to create potential vulnerabilities. A new analysis examines how the EU assesses economic security risks, whether these assessments are effective, proportionate and precise, and how they could be improved.

The analysis recommends that the EU move from periodic assessments towards continuous risk intelligence, strengthen information-sharing between member states, cooperate more closely with businesses and develop more coherent risk-assessment methods.

“The EU has made progress in identifying strategic dependencies, supply-chain vulnerabilities and certain technology-related risks, but its assessments are better at identifying existing vulnerabilities than anticipating new risks. Continuous monitoring, foresight, stress-testing and early-warning systems could help the EU identify and respond to emerging risks earlier,” says Hannes Berggren, Trade Policy Adviser at the National Board of Trade Sweden.

Read the full interview and download the report
De-risky business – EU risk assessments for economic security