A new EU industrial policy? Can the EU be re-industrialised?

I read on Twitter yesterday that the Cyrpus presidency of the Council of the EU, is focusing on a new EU industrial policy.

These are some of my thoughts on the subject (fuller analysis available upon special request):

New EU industrial policy? Horizontal (Bangemann) or sectoral? Inside or outside the WTO?

The EU cannot be re-industrialised w/o a different trade policy and/or w/o radical EU integration into a single force. The rest is wishful thinking, imo.

The EU2020 "strategy" was naive to begin with plus was undermined by austerity (see cuts and/or privatisation of education in many member states (eg UK, Spain, Greece, etc) and cuts in R&D spending due to austerity).