The biggest problem with Europe is the lack of innovation. But that was not an issue before. Before the 2000s, Europe was very very strong in telecom (Ericsson

The biggest problem with Europe is the lack of innovation. But that was not an issue before. Before the 2000s, Europe was very very strong in telecom (Ericsson, Nokia, Siemens, Alcatel), industrial technology, the auto industry, mobile phones, semiconductors, and enterprise software (SAP, Baan, Business Objects, Dassault Systèmes, sage). Europe was definitely much less dependent on U.S. technology back then. In some area I would say it was the other way around. But Europe's dependence on U.S. technology has accelerated dramatically over the last 10-15 years. I'm really not sure why. Regulation and bureaucracy did not get worse. And Europe even created the EU, which provided a better "single market" (better than before the 2000s). I would love to hear some opinions on what changed.