Dr. Tronchetti Provera, we are heading towards the European elections, in the business world we hear that Europe must change pace. How do you see the situation?
“Europe has so far not managed to pool all its resources. It has the richest market in the world and 440 million people with the best social protection globally. All based on the values of culture and democracy which are the basis of the birth of the EU. At the moment, however, there is no project, but only some weak signals on the common defense and foreign policy front. Whoever wins the European elections must be able to give a common direction to all this.”
What do we lack compared to the United States?
“In Europe there are complex technical bureaucratic structures, many rules, and a misalignment between monetary policy and fiscal policy. The United States responded to post-pandemic demand inflation by immediately putting 700 billion dollars on the companies’ plate with the Inflation Reduction Act. In Europe, faced with inflation triggered above all by raw materials, it did not move Nothing”.
Golden Power Economic sovereignism from exception to rule
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What should Europe do to reduce this gap?
“In the short term we need to facilitate growth, which is low and is a guarantee of autonomy. We need to trigger virtuous circles of development by focusing on innovation. Investment in technologies, primarily those connected to artificial intelligence, and a common policy for the purchase of raw materials can increase productivity and create opportunities for the entire European system without negative social impacts. Of course, the 7 billion that Europe plans to invest in AI in businesses or the Gaia artificial intelligence”.
But Europe was among the first to regulate AI, did it do the right thing?
“We are entering the digital era at very high speed and Europe has produced quite stringent rules, President Biden has inserted more general ones but attentive to development, while China has focused on growth and centralisation. Unfortunately, in Europe there is a lack of initiatives that favor the creation of European technological champions that allow us not to depend on other areas of the world in such a strategic area”.
Draghi is completing his study on European competitiveness, he talks about 500 billion a year to relaunch Europe. Agree?
“Draghi is right, even if I fear that the figures at stake are much higher. We need a great recovery plan: digitalisation is the most effective resource. In the PA the impact would be enormous, technology is a powerful growth engine. Then there is the energy transition, but evaluating its impacts in a rational way. Europe must become autonomous from other powers and still has the possibility of having a central role, with its economy and its values. But it has to move very quickly.”
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And how could this great plan be financed?
“The main path is to act on the European budget to be financed also through instruments such as Eurobonds. It was done for the first time with NextGenEu and we must continue along this path. It is important to ensure the competitiveness of the financial system. Europe has a lot of private savings to channel into investments and cannot only look after inflation. We must grow by connecting monetary and industrial policy.”
But sometimes individual countries, such as Italy and France, seem to want to plant flags rather than think on a European scale.
“We must avoid tripping between European countries. Airbus is a case of successful cooperation, but we need to create other champions by evaluating the common interest as well as that of individual countries. Microsoft, with other American and European groups, is focusing on Software Defined Vehicles, the Americans know how to create a system. They often develop new technologies at the military level and then transfer them to the civilian sector. Europe instead starts from consumer protection, as has been done in telecommunications, and loses sight of the competitiveness of the system, weakened by a fragmentation between many subjects which ultimately penalizes the consumer himself”.
Prime Minister Meloni has promoted a Mattei Plan for Africa. Is this a step in the right direction?
“The idea is right. Europe needs raw materials and qualified immigration to compensate for the demographic decline. This is also why it must manage migratory flows well. It is clear that collaboration with African countries is in mutual interest. Our prime minister has certainly gained strong credibility at a European level.”
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But what will happen if sovereignist pressures prevail in the European elections?
“Any sovereignist push will still have to deal with economic growth, a single country alone isn’t going anywhere. It is essential to inform citizens of the risks they run: without a united Europe we are heading towards decline and dependence on foreign powers”.
How is Pirelli proceeding with your Chinese partners after the government’s intervention with the golden power?
“The golden power, used on the basis of European rules, has effectively reaffirmed the spirit of the original agreements by protecting our technology and the independence of management. Cyber tires and sensors in general represent the new frontier for Pirelli. Thanks to the collection of a myriad of data, we are able to improve the parameters related to safety and reduce the environmental impacts of our products, to better measure, among other things, performances and the state of the road surface, transferring information in real time to car control systems, to the driver, to Pirelli itself and to suppliers of various types of services in the automotive world”.
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– 2024-05-03 00:24:51
