A Stable Euro Requires an Ambitious Industrial Policy
After years of falling behind in cutting-edge technologies, Europe now has a chance to transform its economy in the aftermath of the COVID-19 pandemic. The case for an EU-level industrial policy is stronger than ever, and the survival of the eurozone itself may depend on it.
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BARCELONA – The idea of a European industrial policy has been back on the agenda at least since the release of a Franco-German manifesto on the issue in early 2019. But whereas that document focused primarily on global competitiveness, an equally strong argument for reviving industrial policy is that it is necessary for the survival of the euro.