Cut costs or business will exit for US, Chinese markets, employers tell EU

European Council at a Summit in Brussels where Ukraine's candidate status of the EU was granted. Credit: Twitter | Ursula von der LeyenThe European Union must urgently lower energy prices and ease regulations to stop industry from fleeing the continent, European businesses said on Monday, as Brussels prepared plans to stimulate the green economy.

This week, the European Commission, the EU’s executive arm, will present plans to reform Europe’s electricity market, to boost the green transition and guarantee the supply of critical raw materials. “The risk of de-industrialisation in Europe is real,” warned director general of BusinessEurope, Markus Beyrer.

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