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Brussels wants to make European industry more competitive

October 07, 2013

The economies of the European Union will find themselves far behind the United States if they do not take care of their very high energy cost that amplify the industrial decline of the old continent "so says Wednesday the European Commission. To fight against this situation, Brussels prepares a document which will be supervised by a European Council dedicated to the industry in February 2014.

"The U.S. has rediscovered the potential of their industry, says European Commissioner Antonio Tajani. I think this is exactly what Europe should do. That is why I am fighting for the European Council in February to be held on industrial policy, an opportunity for Europe to develop a governance policy towards companies, in addition to the existing one on its fiscal policy. This means a real European industrial policy.

The industrial production in the European Union has fallen in 2013 to 15.1% of gross domestic product which is 20%  Far from the desired target for 2020.

For its part, the U.S. industry reached 19.1% of gross domestic product, in a sign that the industry continues to improve.




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