“That might require obliging private companies to notify cyber security breaches, incidents or attacks to the authorities—so that we can react quickly to support the company, and minimise the collateral damage,” said Ms Kroes.

Second, the EC Vice President said she also wants to stimulate private sector efforts to improve security. This would be done by the provision of the ‘right’ incentives and by raising awareness among users, she said.

And, third, on the supply side, Ms Kroes said she wants to invest in innovation for security technologies.

“Using the funding tools we have at EU level, like the Competitiveness and Innovation programme and the Horizon 2020 programme for R&D,” explained Ms Kroes.

“We will give the industry the opportunity to test out security solutions, in a real life scenario with shared financial risk. Where gaps are identified in security technology, we can develop ways to fill them. So we can provide security tools that are effective, trustworthy and easy to use,” she said.

“That will itself stimulate a new—and increasingly important—industry. We can create a new business opportunity: to supply private and public sectors alike with the tools they need to tackle online threats. I want Europe to hold its own in that globally competitive market,” continued Ms Kroes.

The Vice President concluded by stressing the importance of cooperation. “The internet does not belong to any one group, but attacks on it affect every group. So let's work together, all sectors, all levels, public and private, national, international and European. So that we can safeguard the security of the systems that increasingly underpin our lives, today and in the future,” she said.

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