Yanis Varoufakis. Is Europe Deindustrializing?

The threat is reverberating in Europe’s corridors of power. German Chancellor Olaf Scholz moved quickly to propose a new European Union fund that will offer state aid for EU companies tempted by the US subsidies to emigrate. But in view of how slowly Europe moves, especially when common debt needs to be issued to finance anything, it is questionable whether the EU subsidies will counter the US subsidies in a timely and proportionate manner.