What is lacking

The big complaint about Europe falling behind

Hannes Androsch, Harald Mahrer (WKO) and "Krone" head of economics Rainer Nowak (from right to left)(Bild: Gerhard Bartel)

Industrialist Hannes Androsch and Harald Mahrer, head of the Chamber of Commerce, agree on one concern: Europe and Austria are in danger of being left behind in international competition. There is a lack of innovation and reforms. Our next government must therefore present an ambitious program for the future.

"Krone": Economic experts agree on one concern: Europe is in danger of falling behind in international competition. However, we have been hearing this for years.
Hannes Androsch: Europe has a massive problem. It got back on its feet after the Second World War thanks to the support of the Americans and their security umbrella. But then complacency ensured that we obviously missed out on the digital age. The continent has become dependent on China for sales and imports - from medicines to wind turbines. Now we are experiencing a bitter disappointment with Russia's invasion of Ukraine. They may withdraw into isolation, as they did in the interwar years. In Europe, especially in Germany and Austria, we have massive structural and economic problems; with helicopter money and monetary morphine, we are endangering our prosperity and driving public finances up the wall.