“If the political and institutional conditions are right, the EU should continue – based on the NextGenerationEu model – to issue common debt instruments, which would be used to finance joint investment projects aimed at increasing European competitiveness and security.” This is stated in Mario Draghi’s report on competitiveness.
“The EU budget should be reformed to increase its effectiveness and efficiency, as well as better used to support private investment”, by establishing “a ‘competitiveness pillar'”. In Mario Draghi’s report on competitiveness, it is specified that “EU financial resources should be refocused on strategic projects and jointly agreed objectives, where the EU brings the greatest added value”. The EU should therefore “simplify the budget structure to reach a sufficient scale to support strategic projects”, the report highlights, with the proposal to “group and reduce the number of all funding programmes”. “Dedicated funding schemes should be established to address the investment gap for growth-stage technology companies, as well as for production capacities in certain sectors, such as clean technologies”, Draghi writes, calling for greater flexibility “to allow for the reallocation of resources between and within programmes and potential beneficiaries” and greater support for “private investment”.
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