Europe needs to invest 800 billion dollars in digital infrastructure

EU digital economy and society commissioner Guenther Oettinger predicted that Europe needs to invest nearly 800 billion dollars in digital infrastructure to catch up with the United States and China.

Oettinger urged his countrymen to reject the Austrian populist views that may deter technology experts on migration to Europe to help pay for development.

Oettinger said that if Europe can not develop fiber-optic networks and the next generation of the fifth generation of wireless and high-speed networking applications more quickly, "we will lose because the important technological applications will not be available after that in our industry."

He added that the two Amazon and Google benefit from extensive data standards in the United States and They could collect data gives them a broader knowledge of the needs of their customers more than the majority of European companies.

Oettinger said the Commission Alpbach European Forum, an annual conference to be held in Austria, "according to our calculations, the European region needs investments worth 600-700 billion euros (670-780 billion dollars)."

He added that this includes investments in Switzerland, Ukraine and the Western Balkans, which is part of the European infrastructure.

Oettinger said, which includes the role of the digital economy and society that is touring Europe to discuss the need for a unified digital standards because this is the only way to face the competition with tech giants like Amazon and Google.

He said in response to a question about the expected date for the issuance of common European legislation on data "in less than two years we will have a European legislative standard one and a balance between data protection and the right to use it."

He added "criteria such as how electronic link between the cars must be uniform in Europe. It must be strong enough to become part of global norms and standards, "Oettinger urged European universities at the same time on attracting pioneers in the IT sector.