I'd wager most of the raw the materials come from outside of the EU, and there is indeed intense competition for them from outside economic entities (US, China etc). I mean, even if one were to "discover" a huge Lithium deposit in the Harz mountains (let's say), there's no way that is going to get mined. That actually happened in Serbia, not an EU country, and even there they couldn't open a Lithium mine.

In other words Europe depended on its (relatively) strong currency in order to sustain most of its remaining industry, if that currency strength is gone then things will become real bleak.

Or maybe the financialization of the remaining pieces of industry will save us all, even though I have very high doubts about it. In one of their recent issues The Economist was un-ironically suggesting that the people now producing actual fertilisers in Germany should switch careers and become "fertilisers consultants" or some such, seeing as the production process itself will have become too onerous.

Crazy times, wish we had more "experts" with their feet definitely on the ground compared to what it seems we have (or rather we haven't) right now, after all, parts of Europe have been through all this before (I'm from Eastern Europe, I should know), there should be some institutional knowledge about this type of processes.