French firms are pinning high hopes on President Macron’s reforms. Germany’s powerful economy is tough competition; they complain about its dominance and hope that France’s promised economic reforms will improve their position.
The EU has rejected a merger between rail giants Siemens Mobility and Alstom, citing "serious" effects on competition. The plan would have seen the creation of a European company to rival China’s CRRC.
Germany's economy minister, Peter Altmaier, wants German companies to receive state support to compete against innovative firms in the US and China. Critics say the plan is incompatible with a free market economy.
The German and French economy ministers have set out a 14-point manifesto for a European industrial policy fit for the 21st century. After it blocked the Alstom-Siemens tie-up, the EU faced stern criticism.
With their multi-billion-dollar merger in the US still undecided, senior executives of T-Mobile and Sprint took their case to Washington. Some there doubted whether their promises on prices and competition were credible.
© 2019 Deutsche Welle |
Legal notice |
| Mobile version