German Chancellor Angela Merkel warned Sunday, March 31, in a speech to mark the opening of the Hannover Messe that the EU needed to become more competitive in next-generation industrial technologies, reported the Deutsche World.
“I’m not entirely sure if we have the foundation necessary for us to compete globally,” she said, adding that “Europeans need to act together and find a common position.”
She said the Bloc needs to update its rules to confront a global economy in which some countries give their own companies subsidies and other competitive advantages.
The European Commission, the European Union’s executive arm, would make proposals later this year on how to bolster the Bloc’s industrial prowess, she added.
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