Soaring energy costs are squeezing the bloc’s industry and pushing it further behind global rivals, Pierre Wunsch has warned
The EU is “not competitive” against global rivals as high energy costs weigh on the bloc’s industry, Belgian’s central bank governor, Pierre Wunsch, has warned.
In an interview with the Financial Times published on Monday, Wunsch said the EU’s energy‑intensive sectors are under mounting pressure, as the bloc struggles to keep production going amid persistently higher power costs following the Covid pandemic, the Ukraine conflict, and the US-Israeli war on Iran.
According to Wunsch, the EU is failing to adjust to a new…
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