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Europe Faces Growing Innovation, Productivity Gap
(MENAFN) Belgian Prime Minister Bart De Wever warns that Europe is losing ground to the United States and China in key areas such as innovation and productivity, while also struggling to strengthen its ability to defend itself.
"All of Europe is in difficulty, the world is changing very quickly, and Europe has become an old continent. The Chinese and Americans are surpassing us; we are no longer at the forefront in innovation and productivity, so we are taking hits from all sides," De Wever said in remarks to a broadcaster.
He also criticized Europe's defense capabilities, saying the continent remains unable to adequately provide for its own security.
"We are not capable of taking care of our own defense; we are humiliated all the time," he added.
De Wever said Europeans understand the seriousness of the situation and are increasingly aware that substantial changes are necessary. He maintained that people are prepared to accept difficult decisions as governments attempt to address mounting economic pressures.
"So people know very well that we need to get moving, and certainly in Belgium, we are in serious trouble," he said.
His comments come as Belgium's federal government moves toward major spending reductions as part of efforts to identify approximately €10 billion ($11.7 billion) in savings by 2029.
The Belgian premier recognized that the planned measures would affect a wide section of society and acknowledged the personal pressure surrounding the upcoming budget decisions.
"I am not sleeping well, and I think about it a lot," he said.
"All of Europe is in difficulty, the world is changing very quickly, and Europe has become an old continent. The Chinese and Americans are surpassing us; we are no longer at the forefront in innovation and productivity, so we are taking hits from all sides," De Wever said in remarks to a broadcaster.
He also criticized Europe's defense capabilities, saying the continent remains unable to adequately provide for its own security.
"We are not capable of taking care of our own defense; we are humiliated all the time," he added.
De Wever said Europeans understand the seriousness of the situation and are increasingly aware that substantial changes are necessary. He maintained that people are prepared to accept difficult decisions as governments attempt to address mounting economic pressures.
"So people know very well that we need to get moving, and certainly in Belgium, we are in serious trouble," he said.
His comments come as Belgium's federal government moves toward major spending reductions as part of efforts to identify approximately €10 billion ($11.7 billion) in savings by 2029.
The Belgian premier recognized that the planned measures would affect a wide section of society and acknowledged the personal pressure surrounding the upcoming budget decisions.
"I am not sleeping well, and I think about it a lot," he said.
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