Industry leaders sound warning over European ‘irrelevance’

“A lot must change” to ensure European economy remains globally competitive, business chief says

Leaders of some of Europe’s largest companies have sounded the alarm over the continent’s economic competitiveness, warning that Europe could become a global “irrelevance” and that “a lot must change” to avoid this.

“Two decades into the 21st century, Europe’s industrial decline over the past 20 years shows little sign of stopping,” the chair of the European Round Table for Industry said in his introduction to a 2024-29 vision paper the group published on 26 October.