My 10 cents: Europe could do the innovation and even the military innovation talked about by @eurobriefing.bsky.social if only Europe would stick to its, well, guns. For a deep dive on the EU chainsaw and why it's the wrong policy at the wrong time check out this episode with @alemanno.bsky.social.

By then European leaders had succumbed to bullying by the likes of Vance, Musk, Meta and ExxonMobil out of fear Trump would further dial down security guarantees. The leaders were also cravenly chasing far right votes by ditching the green and digital policies the far right demonizes.

Simplification is deregulation on steroids for everything from tech to chemicals to finance. Much of the push comes from the Draghi report's timeworn mantra about cutting red tape. Conservatives, far right and even socialist leaders jumped on board, ignoring the good bits about pooling more funds.

Here @eurobriefing.bsky.social skirts a big EU innovation and industry story. Namely that von der Leyen is ripping apart the very policies that just a few years ago she and everyone else said was going to secure the EU's future. This U-turn is dubbed simplification. But that's euphemistic pap.

As for the Europeans I don't think they have a gumption or attitude problem. What Europe has is an unfinished single market problem. Which means a scale and access-to-capital problem. And now under Merz and von der Leyen, a follow-the-herd problem.

For one thing the US did not nurture its innovation-friendliness while at one of the radical ends of the political spectrum. That innovation took place under precisely opposite circumstances during decades of mild business cycles and comparatively centrist governments.

The high prices without sufficient cushioning for ordinary households are just a recipe for politicians on with anti-system messaging to notch more victories. Our bills are too high and industry should pay more.

Inability to devise policies to support consumers and fear of far right narratives part one million.