Munich - Ten years after the founding of the European Aeronautic, Defence and Space Co (EADS), its boss, Louis Gallois, is calling for more political support for European industry. In an article published on the company's intranet Wednesday and obtained by the German Press Agency dpa, he said the economic crisis has shown that Europe must focus on industry.
"The financial and economic crisis demonstrates that solid and lasting growth cannot be built upon the mirages of speculation," he wrote. "Industry and related services are the cornerstone of stable and balanced development."
He added that tax, competition and research policies must support the European economy.
The Franco-German agreement to set up the company on October 14, 1999, became a unique project, Gallois said.
National companies are no longer a match for the competition on the world market, Gallois said, adding, "EADS proves that European industrial policy can achieve a great success if it creates collective programmes and competitive businesses."
In the past 10 years, EADS has turned into one of the leaders on the world market, competing on equal terms with US giants such as Boeing Co, he said.
"I believe that 10 years after the creation of the company, both the founders and Europeans can be proud of EADS," he said. "The ingredients of this success are the consolidation of national, formerly competing interests, into a real European format."
EADS was formed by the merger of Daimler AG subsidiary Dasa with the French company Aerospatiale Matra.
