While Brussels bureaucrats continue their paper-pushing parade, Europe's tech sector is getting absolutely demolished by freer markets across the Atlantic. Former ECB head honcho Mario Draghi (yes, the money printer himself) finally admitted what Bitcoin bros and tech entrepreneurs have been screaming for years: the EU's regulatory stranglehold and infantile destruction of free markets is killing innovation (don't worry, of course the commie didn't say that!)
Speaking to a room full of EU central planners, Draghi basically confirmed that their beloved regulatory framework is about as useful as a chocolate teapot when it comes to fostering actual technological progress. The productivity gap between the US and EU isn't just a gap anymore - it's turning into a canyon, and it's getting wider by the day.
Here's the real kicker: while US companies can pivot and innovate at the speed of market demand, European firms are still waiting for regulatory permission to tie their own shoelaces. The EU's response? More committees, more regulations, and more "unified approaches" - because that's worked so well so far, right?
The irony of having a former central banker warn about competitiveness issues would be hilarious if it wasn't so tragic. Here's a wild idea: maybe, just maybe, less central planning and more economic freedom could do what decades of EU directives couldn't?
But hey, at least they're unified in their commitment to staying behind. 🤷‍♂️