Europe makes trillion-euro bet to revive its battered industry

Remember the "Sick Man of Europe" moniker? Well Europe rn is the "Sick Man of the World".

German automakers just laid off thousands of workers recently amid losses due to competition. While the rest of the world has moved on to EVs and battery vehicles, European manufacturers are still stuck in the ICE era.

They are trying to fix the problems that they have created themselves. Electricity is expensive in the EU because of the ETS but the bureaucrats in Brussels are completely out of touch with reality and won't address the elephant in the room.

Over here, they call it gambling economy.