Wallenberg to the Norwegian media: The EU is losing to the United States – “First we should accept that we have a problem”

by Jacob Wallenberg think Europe has no sense of illness.

“When I talk to people [Euroopassa]they think they are doing well. If everyone is doing well, there is no crisis awareness, and then it is very difficult to make a change”, he says in an interview with the Norwegian business media E24.

“On the other hand, if we come to the conclusion, also in politics, that we have a problem, and we start dealing with it from that starting point, then maybe we can change the culture. This is above all a matter related to culture.”

Jacob Wallenberg is one of the three current leaders of his famous family and, among other things, an investment company Investorin chairman of the board. Investor is the largest company on the Stockholm Stock Exchange in terms of market value (around 78 billion euros). Kauppalehti also interviewed him last spring about Europe’s lack of competitiveness.

Wallenberg compares the development of the European economy to the United States. The US GDP growth has been significantly faster than the EU region since the financial crisis. Artificial intelligence development in the United States is also progressing significantly faster than in Europe.

“Incentives are being created in the United States. We in Europe are creating regulation,” he says to E24.

In an interview with both Kauppalehti and E24, Wallenberg offers as solutions support for entrepreneurship, innovation and competitiveness, a capital market union, Enrico Lettan and Mario Draghin means of reports. But first things first:

“First we should accept that we have a problem.”