Ursula von der Leyen, President of the European Commission, praised the progress the EU is making, though she made a few errors, such as calling their economy number 2. It’s number 3 and going down. She agrees that they have one little problem: productivity growth. It’s going down.
She blames the financial crisis and the Russian war while moving fully ahead with the wasteful Green Deal.
Productivity is low, uneven, and slow. She wants to restart the “innovation engine” while de-industrializing with alternative energy and EVs.
According to the EC, there were three core areas for action: Technological innovation, decarbonization with the upcoming Clean Industrial Deal, and focus on affordable energy and security.
The EC wants Europe to be the primary location for developing future technologies, services, clean products, and where they were manufactured and marketed while also being the first continent to become “climate neutral.”
Von der Leyen said: “The Competitiveness Compass transforms the excellent recommendations of the Draghi report into a roadmap. Draghi is a World Economic Forum economist.
“So now we have a plan. We have the political will. What matters is speed and unity. The world is not waiting for us. All member states agree on this. So, let’s turn this consensus into action.”
“We stay the course. The goals are cast in stone,” she said. “The goals stay, the objective stays, but we want to reach it better and faster. And for that, we have to reduce complexity.”
The reality is different from her cheery words.
Car production is down:
The decline in activity in the EU automotive sector has become more noticeable since the beginning of 2024. In the second quarter, production in the industry decreased by 7% after -2.4% in the first quarter.
The reversal of the positive trend, which lasted from mid-2022 to the end of 2023, was largely driven by deteriorating market conditions, where the situation for car manufacturers was complicated by uncertainty over electric vehicle production standards and a lack of charging infrastructure. Demand was also affected by low real household incomes and high inflation, which restrained consumer spending. As a result, production volumes in the industry remain below pre-COVID-19 levels and even below those of 2019, when the industry was already experiencing a slowdown.
Europeans don’t want EVs, no matter how much they force them on them. The auto industry is collapsing as the EU tries to force EVs on everyone.
Their only plan is to keep subsidizing everything they like. They are good at slogans and catchy phrases, but where’s the beef? There is nothing different or substantive in anything she says in the clip below. She’s blowing smoke.
This is the World Economic Forum’s dream. It doesn’t work, but they can’t go back now.
It is time to restart Europe’s innovation engine.
We have the Compass.
We have the political will.
Now, what matters is speed and unity.
Because the world is not waiting for us ↓ https://t.co/4iollrSWxi
— Ursula von der Leyen (@vonderleyen) January 29, 2025
Subscribe to the Daily Newsletter
wpDiscuz
