Macron Says Over-Regulation to Leave Europe Behind US, China [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — French President Emmanuel Macron delivered a pessimistic outlook for the European Union, warning that lack of investment and too much regulation would make the bloc uncompetitive. Speaking at the Berlin Global Dialogue, Macron said Washington and Beijing outstrip the EU in both economic output and investment, and Europe won't be able to compete with other countries unless it moves quickly to complete a banking union and make global trade rules more fair. Former European Central Bank President Mario Draghi issued a similar alarm last month, warning that the EU faces an “existential challenge” if it doesn't radically transform its economy – including the possibility of issuing joint bonds — to boost competitiveness. “The EU could die, we are on a verge of a very important moment,” Macron said in a panel discussion with Bloomberg's Stephanie Flande
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