Bundesbank President: ‘Europe is not utilizing the potential of the single market’

Bundesbank (German Federal Bank) President Joachim Nagel does not think it would be a good idea for Europe to engage in a subsidy race with the United States on green technologies. „Europe can also become more attractive as a location through a deepened internal market,“ Nagel said at his Europe Lecture at the German Institute for Economic Research in Berlin. So far, he said, the EU is far from fully utilizing the potential of the single market. The Bundesbank President sees a need for expansion, for example, in the area of trade in services, in the Capital Markets Union and in the digital sphere.