Europe is urgently searching for corporate growth champions as alarm grows at the continent’s sluggish economy amid fierce competition from the US and China.
Among its political elite, competitiveness is the new buzzword. Emmanuel Macron, the French president, warned recently that the EU only has two or three years to catch up. “The EU could die, we are on the verge of a very important moment,” he warned last month.
The numbers are worrying. The IMF, for instance, recently warned in a report that the gap between European and US GDP is set to increase yet further by the end of this decade as an ageing workforce and low productivity growth take their toll.
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