Europe’s Competitiveness Problem Goes Beyond Energy. It’s About Decision Velocity.

In 2008, Europe appeared to be in an enviable economic position. The European Union’s economy had reached roughly $19.3 trillion, making it approximately 30 percent larger than the $14.8 trillion U.S. economy when measured at prevailing exchange rates. Germany remained an industrial powerhouse, Britain was one of the world’s leading financial centers, and European companies held commanding positions in automotive manufacturing, industrial automation, chemicals, aerospace, transportat