ABB’s chief executive has warned that Europe faces “mass unemployment” unless the EU accelerates deregulation and reforms, as Swiss engineering giant ABB joins a chorus of business leaders sounding the alarm over the bloc’s eroding competitiveness. Speaking to the *Financial Times* on Monday, Morten Wierod said Brussels had shown “no sense of urgency” in implementing the sweeping changes proposed nearly two years ago by Mario Draghi, the former ECB president and Italian prime minister. “I hope it will not come to a much more serious crisis with mass unemployment,” Wierod said. “It should not have to get to that point for the necessary urgency to be recognised.”
The warning comes as Swiss voters prepare to cast ballots on 14 June in a referendum that could cap the country’s population at 10 million—a move critics have likened to a “Swiss Brexit” and which business groups say would throttle access to skilled labour and strain relations with the EU, Switzerland’s largest export market.
Meanwhile, the EU is racing to shield its chemicals industry from a flood of cheap Chinese imports that threatens to cripple the sector, with the European Commission readying new measures to tighten import quotas and raise duties on excess shipments. The bloc has also adopted stricter rules for steel imports, introducing tighter tariff-rate quotas and higher duties on excess volumes to counter global overcapacity.
In energy policy, Swiss public sentiment has swung sharply in favour of nuclear power, with nearly 60% of respondents in a GFS.bern poll supporting the construction of new plants amid growing fears of electricity shortages. The survey found 79% want existing reactors to keep running as long as they remain safe, while 59% back new facilities. The House of Representatives is set to debate the country’s energy future on Monday.
Switzerland is also weighing a Franco-Italian alternative to US air defences after Raytheon’s Patriot system deliveries were delayed by at least five years, with the SAMP-T system emerging as a strong contender for Bern.
On the labour front, doctors in Swiss hospitals report a slight easing in workloads, with average weekly hours falling to 54.6 from 56.3 in 2022, though exhaustion and patient-safety risks remain critical. Nearly 52% of respondents told a Demoscope survey they had at least occasionally felt unable to continue.
In Brussels, industry groups are pushing back against EU plans to mandate electric vehicles in company fleets, arguing the proposal amounts to a de facto combustion-engine ban.