Unshackling Europe’s economy: what holds us back?

1:20 to 3:00
Panel: Unshackling Europe’s economy: what holds us back?

Most economists agree that Europe fails to exploit its economic potential. It has a range of world-leading industries and cutting-edge scientists and technologists. Yet growth is sluggish, new technologies are often held back, and new industries often prefer to develop in other parts of the world. What holds Europe back? High energy costs, low productivity growth, low levels of investment in R&D and underperforming capital markets have all been cited as key barriers to be addressed within EU member states. Others talk about the lack of a serious industrial strategy, or the burden of so-called “zombie companies” – bad business kept alive by cheap debt or government support. Does Europe need a bit of “creative destruction” to get the economy moving again?

In EU circles, much debate focuses on the need to extend the Single Market to provide European companies with better opportunities. Yet the Single Market is also said to cover companies in red tape and prevent member states from making sensible investments at the national level.

Following the Letta report on the Single Market, and in anticipation of the much-awaited Draghi report on European competitiveness, what are the options for reversing Europe’s poor economic performance? This debate is an opportunity to gain fresh insights and contribute to the conversation on unleashing Europe's economic potential.

Matthias Bauer, Director and Senior Economist, European Centre for International Political Economy (ECIPE)
Géza Kovács-Dobák – State aid and Industry expert, National Ministry for Economy of Hungary – European Commission DG COMP (Seconded National Expert)
Phil Mullan, author of 'Creative Destruction: How to Start an Economic Renaissance' and 'Beyond Confrontation: Globalists, Nationalists and Their Discontents'
Dorien Rookmaker, professional Risk Manager, former member of the European Parliament and the ECON and TRAN committees, and founder of the Dutch political movement More Direct Democracy

This keynote is part of the event Unshackling Europe’s economy: what holds us back?: https://brussels.mcc.hu/event/unshack...