“Will Europe still play a role in the future?” That is the question that Stefan Pierer asks himself as chairman of the Upper Austrian Industry Federation. The hugely increased costs put companies under enormous pressure – also and especially in international competition.
The war in Ukraine, the energy crisis, inflation, the ever-increasing labor shortage – all this places enormous demands on the industrial companies of Upper Austria. “It’s an extreme challenge – last year we did pretty well and bravely,” said Stefan Pierer, president of the Upper Austrian Industry Federation.
There are many things that worry Pierer. “The labor shortage is getting worse every year,” the 66-year-old laments. “The inflation situation in Austria is homemade,” says the spokesman for the industry of Upper Austria angrily, “but we are certainly not giving up”.
Above all, the European Union gets its fat from Pierer: The EU’s regulatory rage “has taken us to the wrong level,” says the man who, in view of Europe’s energy strategy since the outbreak of war in Ukraine in 2022, says: ” There has been total failure here.”
criticism of union members
With regard to the autumn wage rounds, union members had recently taken a stand and made it clear that they would go all out in collective bargaining due to the continued high inflation. “I see how they blow up”, Pierer is surprised. “I expect such officials to think not only about the next election, but also about what is good for the country.” According to him, Europe already has the highest unit labor costs. and is therefore an uphill battle in international competition.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
