EU to Discuss Paradigm Shift at Competitiveness Summit
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The EU is concerned about its declining economic power compared to US and Chinese firms. Leaders are discussing a "paradigm shift" at this week's summit to boost competitiveness. The shift may involve bringing European financial markets closer together and implementing joint borrowing for industry and defense. The draft conclusions of the summit state that "Europe needs an urgent paradigm shift" due to geopolitical tensions and assertive policy measures by international partners and competitors.



https://www.bloomberg.com/news/newsletters/2024-04-18/eu-to-discuss-paradigm-shift-at-competitiveness-summit