Europe is overregulated, making business difficult, according to tech billionaire Elon Musk.
He made this claim during an interview on Italian Deputy Prime Minister Matteo Salvini’s program as a hypothetical head of a non-existent Department of Government Efficiency.
Musk urged Europe to consider radical deregulation, saying it’s necessary for the continent’s success.
Europe’s regulatory situation is stifling, with multiple layers of regulations from local, country, and EU levels.
If deregulation means leaving the EU, Musk believes it might be a necessary step for Europe’s business environment.