2024-01-19 11:07:06
Published on: 01/19/2024 – 12:07
1 mn
“I am concerned that some politicians in the European Union lean towards subsidizing almost everything, but we must avoid a race for subsidies, we cannot afford that,” Mr Lindner said.
The minister, who was speaking at the meeting of the World Economic Forum which ends Friday in the Swiss Alps, also wondered whether “the next American administration will be able to continue to support the economy in this way” and “if such high subsidies are sustainable.
The United States has notably implemented a plan of several hundred billion dollars (Inflation Reduction Act, IRA) to support green industry and American factories, which notably provides for subsidies for electric cars manufactured in the United States. .
The EU, for its part, has a “Green Deal” with aid, in particular, for battery factories for electric vehicles.
“Our competitive disadvantage compared to the United States is not subsidies but the functioning” of the financial market, argued Mr. Lindner, pleading to “improve general economic conditions and make progress on the union of financial markets ” in Europe.
On Wednesday, French President Emmanuel Macron had already spoken of the need to “deepen the capital markets union” and to have a “financial Europe that is much more integrated”.
“If we block at 27, France will propose moving forward with reinforced cooperation on this subject because we absolutely must move forward,” he said.
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