Europe has become an 'old continent,' warns Belgian PM
What's the story
Belgian Prime Minister Bart De Wever has warned that Europe is lagging behind the United States and China in innovation and productivity. In an interview with broadcaster Bel RTL, he said, "All of Europe is in difficulty...the world is changing very quickly, and Europe has become an old continent." He also expressed concern over Europe's inability to take care of its own defense.
Budget cuts
Europeans aware of challenges, ready for difficult measures: De Wever
De Wever acknowledged that Europeans are aware of the challenges facing the continent and are ready for difficult measures.
His comments come as Belgium's federal government plans a major budget-cutting drive, targeting around €10 billion in savings by 2029.
The prime minister admitted these measures would impact everyone across the country, not just a small section of society.
Revenue misconceptions
Misconceptions about taxation and spending cuts
De Wever also warned against the misconception that increasing government revenues could be done by taxing wealthy taxpayers alone.
"If we seek revenue, it will be from the rich. And someone who is rich is always richer than you. You are never rich; it's someone else, richer than you, who has to pay the bills," he said.
The prime minister also highlighted a common belief that spending cuts should impact others instead of oneself.
Strategic challenges
De Wever losing sleep over tough budget decisions ahead
De Wever's remarks highlight the economic and strategic pressures facing Belgium and Europe.
Governments are grappling with sluggish productivity, competitiveness concerns, rising defense requirements, and difficult fiscal choices.
The prime minister said he was losing sleep over these tough budget decisions ahead.
"I am not sleeping well, and I think about it a lot," he said.