Andrew Caruana Galizia, Head of Europe and Eurasia at the World Economic Forum, believes there are certain areas where Europe “will never be able to be self-sufficient, like critical raw materials”. But he insists “best thing Europe can do” is focus on its own internal market.
Caruana Galizia also said that Europe has “the best savers in the world”. Despite this, the “real tragedy” is that they are “poorer than Americans”. Even if Europeans save “twice as much as Americans”, they are “unable to build up wealth at the same rate as Americans”, Caruana Galizia said.