Macron Says Europe's Tech Sector Is Held Back by Fragmentation and Investment Barriers

French President Emmanuel Macron said the global technology industry is largely dominated by major U.S. and Chinese companies, while Europe continues to face structural challenges.
"When you look at the tech sector, it's largely driven by the U.S. big seven companies and the Chinese companies."
Macron identified market fragmentation and limited access to investment capital as two key issues holding Europe back.
He noted that Europe has substantial savings, even more than the U.S., but argued that excessive regulations in the banking and insurance sectors prevent that capital from being properly invested.