Europe's manufacturers are rapidly losing ground to US rivals because of soaring energy costs and the failure of the continent's governments to be "rational" about nuclear power and shale gas, the head of one of the world's biggest chemicals groups has warned.

In an interview with the Financial Times, Jean-Pierre Clamadieu, the new chief executive of Franco-Belgian Solvay, accused Germany, France and Belgium of acting in isolation on nuclear and gas policy and failing to come up with a coherent strategy to keep Europe's companies competitive.

"There is very little European co-ordination," he said, warning that energy costs... [continue via Web link]