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Total's CEO Christophe de Margerie declares the European economy dead

In the context of competitive ability, the European economy is dead, and it should be considered as a developing economy, said chief executive officer of the French energy company Total Christophe de Margerie at the World Economic Forum in Davos.

"Europe now is a developing economy, like BRICS and African countries, and the European Union should be added to this group," said Margerie, adding that it is necessary to increase the competitive advantage of European products.

Europe should once again learn to produce high-quality goods with competitive prices, noted Total's head.

[Source: Itar Tass, Davos, 22Jan14]

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small logoThis document has been published on 23Jan14 by the Equipo Nizkor and Derechos Human Rights. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.