EU officials have drafted a plan for a sovereign wealth fund that would invest 100 billion euros in "high-potential European companies," according to reports in the FT and Politico.
The proposal would mark a drastic step from the EU to try to encourage companies within the continent to catch up with competitors from the U.S. and China. The FT said an internal document specifically named risks from U.S. tech giants Google, Apple, Facebook and Amazon and Chinese firms Baidu, Alibaba and Tencent.
Ursula von der Leyen, incoming president of the European Commission, left, speaks during news conference at the European Parliament, in Strasbourg, France, on Tuesday, July 16, 2019.European Union officials drafted a plan to launch a sovereign wealth fund to invest in companies that could compete with U.S. and Chinese tech giants, according to reports in the
Da komrade. Committees of EU bureaucrats picking emergent tech cos. That'll be the way to find winners & challenge Silicon Valley.. This is in no way a massive trough out of which EU politicians will feed their friends & buy votes.
They can forget taking on US tech firms. Their bureaucratic approach to businesses will never generate fast growing tech businesses.
Translation....EU plan to steal an extra hundred billion dollars from member nations to fund a high tech pipe dream, in an ego driven attempt to outdo America!
EU groups r suggesting ‘picking winners’ & putting up barriers to China & USA in addition. Especially with free trading U.K. about to Brexit.
Good luck with that. Britain is leaving, Italy & Poland will be next. The EU is on its death bed.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European officials draft radical plan to take on Trump and U.S. tech companiesIn a bid to counter Trump, EU officials are proposing to unilaterally slap tariffs on the United States. Just another reason for trump to pull america out of the EU. MAGA2020 Brexit Surprised it took this long.
Source: politico - 🏆 381. / 59 Read more »
Explainer: What early U.S. presidential polls tell us about the 2020 raceAnyone paying the slightest attention to the Democratic presidential campaign ha... The media will prop up a terrible candidate in order to maintain the status quo Explainer: Reuters is Globalist-Propaganda, funded in the same way the Associated Press is -- by Mr. Rothschild & his cohorts. Globalists are anti-USA, because Globalists desire to conquer the world, and need the USA - the most powerful country on Earth - to do that. MolonLabe The polls tell us whatever they've been paid to tell us.. and we eat it up everytime
Source: Reuters - 🏆 2. / 97 Read more »
Parkland Kids Unveil Sweeping Gun Control Plan 'Written By Us, For Us'The Parkland kids just unveiled one of the biggest plans we've ever seen on gun control.
Source: ScaryMommy - 🏆 116. / 63 Read more »
Trade woes are slowing U.S. economy, U.S. budget experts sayHigher trade barriers, including President Donald Trump's tariffs, are slow...
Source: Reuters - 🏆 2. / 97 Read more »
Boris Johnson wants Ireland to leave EU trade rules and form a new union with the UK instead after BrexitUnder the plan, Ireland would voluntarily agree to temporarily leave European Union trading rules and align with the UK instead. That is what bilateral trade is supposed to be: two sovereign nations deciding for themselves what is in their best interests. The EU bureaucrats in Brussels have no role meddling in such matters. Sure he does That's gonna be a hard one
Source: BusinessInsider - 🏆 729. / 51 Read more »
EU antitrust regulators raise concerns about Facebook's Libra currency: sourcesEU antitrust regulators want to know whether Facebook's proposed Libra cryp... 😂😂 junk Libra cryptocurrency is the most popular currency that May raise lots of concerns. Revain's authors also find out some facts about Libra yes very uncomfortable that amazon runs a crypto and sells stuff using it, risk of market price fixes galore. Think Libra will have to be attached to a virtual country and trade agreements will have to be negotiated once it's done. Won't touch it before that point.
Source: Reuters - 🏆 2. / 97 Read more »