In 2026, as Spain marks 40 years since joining the European Communities, the European Union faces a shifting global landscape shaped by intensifying geoeconomic and geopolitical rivalry.

Economic and energy dependencies and global value chains are increasingly being leveraged in great power competition, challenging Europe’s growth model and exposing longstanding structural issues. The Draghi report responds with a roadmap to boost competitiveness through greater investment and innovation, advancing the digital and green transitions, completing the Single Market, and improving the regulatory framework.

Since its accession, Spain has proven a committed Member State, contributing to a stronger and more competitive Europe while preserving social cohesion. It also demonstrates how investment in the green transition can lower energy costs and enhance competitiveness.

Marking its 25th anniversary, the Elcano Royal Institute hosted a high-level conversation in Brussels with Teresa Ribera, Executive Vice-President of the European Commission, to reflect on the EU’s competitiveness in a rapidly evolving global context.

Participants:

  • Teresa Ribera, Executive Vice-President for Clean, Just and Competitive Transition, European Commission | @Teresaribera 
  • José Juan Ruiz, Chairman, Elcano Royal Institute | @ElcanoJjRuiz

Hashtag: #CompetitividadUE

Recording of Conversation ‘Europe’s competitiveness in a changing global order’. Duration: 1:01:57

Image: European economy and investment concept. Photo: nevarpp / Getty Images.