The EU’s ‘industrial strategy’ will compound Europe’s economic woes

Monday was Ursula von der Leyen’s 100-day-anniversary as President of the European Commission. The new Commission started with ambitious plans, promising much that would need to be done right at the start of its five-year tenure. So far, it’s been a case of all mouth and no trousers.

The European Green Deal was presented by von der Leyen as Europe’s “man on the moon” moment in December, but it already looks to have been be watered down due to conflicting national interests, while climate heroine Greta Thunberg describes it as a complete “surrender”.

Meanwhile, European politics has been largely focused on the unforeseen return of the refugee crisis on the Greek-Turkish border and, of course, the coronavirus.

Yesterday, the Commission presented the second pillar of its grand plan – an industrial strategy that promises a “transformation which will touch every part of our society and of our economy”, to quote von der Leyen.

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Πηγή: capx.co