EU Slams the Door (Just a Crack) on Sketchy Foreign Investments
The European Parliament just voted with overwhelming enthusiasm—508 to 64, with 90 MEPs apparently checking their phones—to finally screen foreign investments that might be, shall we say, problematic.
Starting in 18 months, if you’re a non-EU entity eyeing Europe’s defence tech, semiconductors, AI, critical raw materials, or financial services, you’ll need to pass a vibe check. And by vibe check, we mean mandatory government screening to ensure you’re not planning anything nefarious.
What Changed?
Remember when anyone could waltz in and buy up sensitive European assets? Yeah, that era of “European naivety”—as French MEP Raphaël Glucksmann poetically called it—is officially over. The new rules will streamline the screening process (because nothing says “efficient bureaucracy” like the EU) while keeping Europe open for business. Just not all business.
The twist? These rules also apply to EU-internal deals where the real puppet master is actually sitting in a non-EU country. Clever loopholes, meet your match.
Why Now?
COVID-19, Russia’s invasion of Ukraine, and general geopolitical chaos reminded everyone that maybe—just maybe—letting foreign powers control your critical infrastructure wasn’t the brightest idea. The original 2020 regulation apparently had some holes you could drive a semiconductor factory through.
What’s Next?
The Council still needs to rubber-stamp this agreement, but with those voting numbers, it’s basically a done deal. Europe is officially done with “wilful blindness,” though the jury’s still out on regular blindness when it comes to bureaucratic efficiency.