BRUSSELS (AP) — A long-awaited report on how to rescue Europe's economy from weak growth and red tape is in. The question is, how many of its recommendations...
and red tape is in. The question is, how many of its recommendations will actually be enacted by the drawn-out decision-making process of the European Union ?
Now the EU and its 440 million people are facing a persistent and growing growth gap with the US, the report says. Last year the EU economy grew 0.4% compared with 2.5% in the U.S.. All three are now disrupted or in question. Draghi says the EU and its 27 member governments have to work better together to develop their own capacities.
That, and too much regulation, leaves Europe stuck with an economy based on older, “middle technologies” such as autos instead of digital tech. The report pointed out that no EU company worth more than $100 billion has been set up from scratch in the last fifty years, while all six U.S. companies worth more than $1 trillion - such as“We have many talented researchers and entrepreneurs filing patents,” the report says. “But innovation is blocked at the next stage...
The U.S. government's road safety agency wants the auto industry to design new vehicles including i ncreasingly large SUVs and pickup trucks so they reduce pedestrian deaths and injuries. The National Highway Traffic Safety Administration said Monday that it's proposing a new rule setting testing and performance requirements to minimize the risk of pedestrian head injuries.
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