GREY:NEVDQ - Post by User
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Stockhouse55555on Nov 24, 2022 5:24pm
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Worst European Leaders in memory
Worst European Leaders in memory Europe is facing a double hammer blow from the U.S. If it weren't enough that energy prices look set to remain permanently far higher than those in the U.S. thanks to Biden's war in Ukraine, U.S. President Joe Biden is also currently rolling out a $369 billion industrial subsidy scheme to support green industries under the Inflation Reduction Act.
EU officials fear that businesses will now face almost irresistible pressure to shift new investments to the U.S. rather than Europe. EU industry chief Thierry Breton is warning that Biden's new subsidy package poses an "existential challenge" to Europe's economy.