France’s Industry Minister Arnau Monteboug said in an interview that European competition and state aid rules are “stupid,” impeding the development of the economy as outdated regulations.
In the interview given to the French edition of EurActiv, Montebourg described competition rules as “counter-productive” because they prevent companies from becoming industry leaders within the EU.
”Europe organized the balkanization of its companies by chasing down state aid,” the official said. “It was a stupid and counter-productive policy.”
To support his claim, Montebourg brought attention to the economies of China and the US, which he says support national enterprises, such as the US’s Verizon telecommunications giant.
Full content: EurActiv
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