Bold, wise investments in strategic sectors are gateway to European modernity

Bold, wise investments in strategic sectors are gateway to European modernity | INFBusiness.com

Energy, economic, and defence security: These are the three pillars that should become the determinant of the EU’s political doctrine, writes Mateusz Morawiecki.

Mateusz Morawiecki is the prime minister of Poland.

Reconstruction is a key word in the European dictionary today. The years that passed under the sign of a state of emergency are behind us. The pandemic, Russian aggression against Ukraine, and the inflation crisis have shaken the European economy.

They exposed its weaknesses, but they also showed that the Old Continent still has gigantic potential.

Now, instead of focusing on ideological disputes, the European Union must move on to an economic and geopolitical counter-offensive.

In Poland, we have ambitious plans for development. We have started work aiming to build nuclear power plants in our country. Poland is also one of the EU countries most interested in implementing small nuclear reactor (SMR) technology.

This is our response – strong and unequivocal – to the energy crisis caused by Russian aggression against Ukraine.

Just like Poland, Europe as a whole must answer the question: What path should we take today, when abandoning Russian energy sources has become a moral and geopolitical necessity? Poland is firmly betting on nuclear energy.

If the EU economy is to remain competitive, Europe needs access to cheap and clean energy. Import of traditional energy raw materials is becoming more and more expensive.

Therefore, in order for Europe to maintain stable development and energy sovereignty, we must reduce imports of minerals and develop alternative energy sources – not only renewable energy sources, which are unstable and dependent on changing weather conditions, but above all stable and low-emission nuclear reactors.

Too often, the debate on the direction of European energy is pointless and prolonged. It becomes a trap that only our enemies can benefit from. It also comes as a surprise that some countries are abandoning nuclear power just now, as it is becoming the key to the continent’s energy security.

Currently, in only two countries (France and Slovakia) nuclear energy accounts for more than 50% of the energy mix.

I am aware that the development of nuclear energy is a big and complicated undertaking – especially since many myths and prejudices have grown around the atom. It is high time that all countries interested in this field started to actively cooperate on the production, use, licensing, innovation and safety of nuclear energy.

There is also a need for a significant streamlining of administrative procedures – so that more power plants will be built on time and in accordance with the approved financial plan.

Poland wants to be one of the leaders in the development of nuclear energy in Europe. We want to build not only large power plants but also engage in the development of SMR technology.

The nuclear sector has the potential to create around 300 000 new jobs across the EU. Moreover, the atom, as a clean, stable and cheap fuel, is able to provide Europe with development and security for decades to come.

It is at stake, on the one hand, to take care of the environment and, on the other hand, to reduce the dependence on energy sources that have to be imported from outside the Union.

Another pillar of the renaissance of the European economy must be reindustrialisation. The pandemic has shown that Europe, without its own industry, is completely defenceless in the face of mega-threats. Rebuilding industrial potential is the key to regaining European self-governance.

In this context, Russia’s aggression against Ukraine has reminded us that we need new production capacities, including weapons and especially ammunition. We are already developing the Polish defence industry in order to ensure the security of our citizens even better and more effectively.

However, in the coming years, expenditures for this purpose will increase significantly.

Such a vision requires the courage to invest. Thanks to the repair of public finances, Poland regained its courage – including investment in the field of defence. In 2023, we will allocate PLN 100 billion for this purpose, investing only in Poland.

And if we also take into account the purchase of weapons abroad for the needs of our army, it will be even PLN 140 billion.

In this way, we will quadruple the funds allocated to the defence of the Polish state. For larger EU countries, this should not only be an example, but a standard.

Our goal is the rapid modernisation of the Polish army and to make it the strongest and most modern in the region. This is exactly what the planned investments and support for the strategic branches of industry, including the armaments industry, are intended to serve.

We want a strong and sovereign Poland. Energy, economic and defence security – these are the three pillars that should become the determinant of the EU’s political doctrine.

Source: euractiv.com

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