JPMorgan Chase CEO Jamie Dimon has delivered one of his bluntest assessments yet of Europe’s economic prospects, arguing that excessive bureaucracy and policy missteps have “driven business out, driven investment out and driven innovation out,” and warning that a weaker Europe now represents a significant long‑term risk for the United States.
Speaking at the Reagan National Defense Forum, Dimon said Europe has “a real problem,” praising the continent’s generous social safety nets but insisting that layers of regulation and slow decision‑making have steadily eroded its competitiveness. He argued that these policies have pushed companies, capital, and cutting‑edge industries to more dynamic regions, even as some European leaders acknowledge the need for reform.
Dimon framed Europe’s economic drift as a strategic concern for Washington, describing a “weak Europe” as bad for the U.S. because the continent remains a critical ally, trading partner, and source of shared democratic values. He urged U.S. policymakers to develop a long‑term strategy to support European strength, warning that political fragmentation, reduced military spending, and persistent bureaucracy could undercut both sides of the Atlantic.
The JPMorgan chief’s latest warning builds on earlier comments that Europe is “losing” ground in global GDP and competitiveness, slipping from roughly 90% of U.S. economic size to about two‑thirds over the past decade or so. He has pointed to overregulation, high taxation, and fragmented markets as key drags on growth, while praising countries such as Ireland that have embraced more business‑friendly policies within the European Union.
