USA – 2001: 2 Col 3 in / 96×76 mm / 327×259 pixels Kurt Strazdins Illustration Flag Flag … [+]
As the world accumulates with geopolitical and economic landscapes, Europe faces a critical moment. While the US is falsified with massive investments of it – such as the Stargate Initiative $ 500 billion – and China continues to pour resources in its industrial and technological growth, Europe risks being left behind. Fighting under layers of regulatory complexity and political inertia, the continent is failing to match the pace of innovation set by its global competitors.
In this recently published opinion in two major European business publications, Matthias Tauber, Managing Director for Europe at the Boston Consulting Group (BCG), and I argue that European business leaders – not just politicians – should receive tendencies for promote the change. We emphasize how the CEO of large German and French corporations, especially those in Dax and CAC 40 stock indices, have the experience and influence to push Europe to a more pragmatic, innovative and optimistic future.
Our message is clear: if Europe remains important in the 21st century, its business leaders should grow – just as their American and Asian counterparts already have.
DAX and CAC 40 leaders, Europe needs you
“Have we gave up?” He wondered the Director General of a large German company in Davos when he heard about the $ 500 billion invested in Stargate, the American Infrastructure Project for Artificial Intelligence. Removing what? Being the driving force to be for the recreation of Europe. Donald Trump has openly mocked European regulations, claiming they discouraged him to invest in Ireland. Today, a company that uses artificial intelligence (it) must respect European regulations, national regulations and sometimes even local regulations. Three levels of adjustment for this issue – two many.
Europe must change, and not just in it. The goal is not to repeat US announcements but to draw lessons from [“The Future of European Competitiveness,” a comprehensive 400-page document presented by former Italian Prime Minister and European Central Bank President Mario Draghi to the European Commission]
The findings of Draghi Report: Since the Treaty of Rome in 1957, the results of European integration have fallen less from our ambitions. Elections in the US seek to relocate gears.
Only our politicians cannot recreate Europe. Experience in parliament or local government administration does not prepare political leaders to promote the necessary shock of pragmatism, innovation and optimism that the continent needs urgently.
Time for action
To rebuild enthusiasm, Europe’s recreation cannot happen without the engagement of its business leaders. Donald Trump successfully mobilized the leading technology and finance leaders about his vision for a “new golden era”. In the US and most of Asia, optimism is obvious. Of course, Europe has no Nasdaq billionaires, but we have unpaid industry leaders and financiers. Deeply focused on the competition of their companies, they have first -hand experience with the obstacles to be overcome to restore European economic strength.
Unfortunately, many business leaders are tempted to break away from the continent’s political challenges. An irritated French executive admitted that he no longer responds to Emmanuel Macron’s approach. Of those who contributed to the European Commission’s discussions on the act, only 7% came from the business sector.
However, the same leaders are the first to predict that Brussels can create a bureaucratic nightmare detached from the real world.
Business executives cannot be withdrawn
Withdrawal of business leaders – shared by bureaucratic inertia and political stagnation – is evident in many places where the detachment between politics and business is now complete. But such an attraction would be catastrophic for a Europe on the eve.
“Shock” needs Europe should come from the Franco-German partnership. Dax and CAC 40 leaders must take the initiative. They have done it before – ensuring the success of Airbus in a historically dominated market by Americans. They can do it again by formulating Europe’s response to “Stargate”, trade wars, energy challenges and decarbonization.
After all, Donald Trump’s choice can be an opportunity for Europe – if it rebuilds our ambitions and mobilizes our best talent. In Davos, a “Make Europe again big” cap “sparked a lot of discussions. Mega is not the solution for Europe, but we urgently need to rediscover the optimism that will restore us.
It’s your move, business leaders.