European industry sending distress signal

The European Union must act fast to prevent the deindustrialization of Europe, the president of the Hellenic Federation of Enterprises, Dimitris Papalexopoulos, warns in an interview with Kathimerini.

High energy costs and growing pressure to cut carbon emissions threaten the existence of Europe’s energy-intensive industry, which is being called upon to make huge investments to ‘green’ its facilities while demand is falling, output has dropped and factories are facing closure.

In this context, the heads of 73 groups with 7.8 million workers in 20 sectors signed on February 20 the Antwerp Declaration, asking for a Biden-style stimulus package.