Addressing Europe’s Corporate Technology Gap
European firms currently lack the scale and agility they need to compete with their US and Chinese counterparts. Wise policymakers would harness the cooperative momentum generated by the Ukraine war and embrace the “transversal technologies” that are crucial to the region’s future prosperity.
ZURICH – Europe seems to change most decisively as a result of crises. The European Union was created in the aftermath of World War II. The 2008 global financial crisis and the eurozone crisis that followed led to more financial cooperation among European countries. The COVID-19 pandemic triggered greater fiscal coordination through the Next Generation EU recovery fund. Now the war in Ukraine is upending Europe’s energy strategy and sparking a new conversation about defense.