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00:00So the EU was one of the largest and wealthiest consumer markets in the world and there are very few global companies that can afford not to trade in the EU. Are these sanctions on Russia working? Well, I would sit. My answer to that is always. So far, so good. I never say, is it working on the long term because we're relatively new in this field, in this area of these sanctions. So I think they're doing what we hoped that they would do. Brexit will never just be done. It will require constant negotiations, constant alterations to the relationship. Does it make sense for Brussels to have one definition of what is green hydrogen and the US another one? I would argue no. And I say it as someone who used to work in digital technologies where I saw the US go one way and Europe another way, and frankly it was very detrimental, particularly to Europe. We must make sure that this doesn't happen again in clean technology. It's still a pretty fluid market, but we do need to make sure that it doesn't become less fluid because then to your opening point, then we still think Europe is super attractive, but we wouldn't want barriers to go up to kind of make mobility, say, in and out of the European Union harder. We have had a lot of inflow of Russian engineers, mostly very young, very skilled, very talented people. It's a completely different way of thinking about central banks, and it's a different role. Another way to put it is they have to be unpopular now in order to get inflation back down where it used to be. You can count on them each time to rescue you to stabilize the system, to bring support. And that has shifted.

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Bloomberg New Economy Gateway Europe: Day 2 Highlights

Day 2 highlights from the 2023 Bloomberg New Economy Gateway Europe. (Source: Bloomberg)

Bloomberg Technology
The only daily news program focused exclusively on technology, innovation and the future of business from San Francisco. Hosted by Emily Chang.
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