What we do need is that European politicians wake up and realise that maintaining stable supplies in time of crisis is more important than short-term profits during relatively good times. Some investments in self-sufficiency are definitely needed, but the EU as a whole should have no problem ramping up production of the basics like food, steel, concrete and energy. That is, of course, assuming someone does something about it. The Russian invasion of Ukraine has rattled a lot of people and while the EU is a slow moving beast it is already responding.

I'm more worried about how to make the economy of it all work out. Someone is going to pay for all that it's going to be through taxes, and whomever gets that lottery ticket might not respond as expected (big Tech may decide to leave, smaller business could decide to simply shut down, regular people may cheat on taxes or start building guillotine replicas in public places, and so on.).