« L“Economic war is not an empty phrase and Europe is losing it,” declared Mario Draghi at a social conference in La Hulpe, Belgium, on April 16. The man who saved the euro in 2012 with his famous “whatever it takes” does not mince his words to describe the current situation in Europe, caught between a predatory China and an increasingly protectionist United States. His report on the revival of competitiveness in Europe, eagerly awaited for months, will be submitted to Commission President Ursula von der Leyen on Monday at 11 a.m. It is expected to contain 400 pages of analyses and proposals.
For two months now, Mario Draghi has been distilling a few snippets of his findings and outlining solutions. An alarming observation shared by all: “Today, we invest less in digital and advanced technologies than the United States and China, including in defense, and we only have four European technology players among the world’s top 50,” he indicated.
Energy, Europe’s Achilles heel
One of the crucial points addressed by Mario Draghi is the energy issue. During the presentation of the Charles V Prize in Spain last June, he highlighted the failures of the European electricity market. “Market rules do not allow the price of renewable and nuclear energy to be completely decoupled from the higher and more volatile prices of c […] Read more
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