EU official rejects industry champions concept

Incoming European Industry Commissioner Mr Guenter Verheugen said today the EU should not artificially promote the creation of…

Incoming European Industry Commissioner Mr Guenter Verheugen said today the EU should not artificially promote the creation of national or European industrial champions.

In written testimony to the European Parliament, Mr Verheugen appeared to distance himself from French and German government policy.

He said: "With regard to the issue of national or European 'champions', the Commission does not intend to encourage arbitrarily the emergence of one or other company or group, national or transnational, to the detriment of others."