Europe will now struggle to wean itself off Russian gas, oil, coal, and raw materials, and possibly find alternative suppliers of wheat. RussiaUkraineCrisis
“In the context of this crisis we are seeing how our food, our energy, our defense are all issues of sovereignty,” French President Emmanuel Macron told journalists after hosting an EU summit at the Chateau of Versailles.
In semiconductors the EU wants to build its own factories and double its share of the global market to 20% by 2030, the declaration said. Semiconductors are now mainly bought from Taiwan and the United States. France and Italy have been pushing for the EU to agree to new joint debt issuance for the expected increased outlays, modeled on the EU’s 800-billion-euro recovery fund, of which only 74 billion euros have been disbursed so far.
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