Personally, I very much identified with this appeal by the Italian Prime Minister. Unlike in the UK, with UK Prime Minister, David Cameron, Letta understands what makes industry tick. He glosses over the problem years since 2008 and the emergency actions taken, and focuses intelligently on what needs to be done now.
As I reflected on his analysis my mind switched to the UK and what David Cameron’s government had done for UK industry. Sadly, in the UK there’s a bully on block, with the Financial Services sector, and because of the bully everybody else misses out.
A strategic approach to industrial planning is essential to regain competitiveness. The UK political classes should learn from Italy. Letta rightly recognizes the crucial importance of energy costs and the need for EC policies to regain competiveness with the likes of the US.
I struggle to understand why the European Commission is not ready to pump billions into the emerging European offshore oil and gas industry, centered in Cyprus?