Europe Today "We over regulate in Europe" - 2025 Nobel economics prize winner tells Euronews
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Dec 3, 2025 
Philippe Aghion, a French economist and co-winner of the 2025 Nobel Prize in Economics, discusses the urgent need for Europe to boost innovation. He critiques the region's over-regulation and lack of breakthrough technologies, contrasting it with the US and China. Aghion emphasizes the importance of creative destruction, advocating for a true single market and stronger investment in technologies like AI. He proposes a DARPA-style approach to industrial policy to invigorate Europe's economy and encourage risk-taking.
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Raid Over Diplomatic Academy Tender
- The European Public Prosecutor's Office and Belgian police searched the External Action Service and the College of Europe over a tender for a diplomatic academy.
- Authorities allege the College of Europe received a heads-up that gave it an unfair advantage, and Federica Mogherini was detained for questioning.
Europe's Weak Creative Destruction
- Europe lacks enough 'creative destruction' and remains stuck in mid-tech incremental innovation.
- Philippe Aghion says this makes the EU lag behind the US and China on frontier breakthrough innovation.
Create Market And Finance For Risk
- Build a true single market for goods and services so innovators can access a bigger competitive market.
- Strengthen venture capital and institutional investors to encourage risk-taking and accept short-term failure.