Draghi report

Draghi's report urges the EU to foster more investment to increase European productivity. The report proposes new prudential rules for banking and institutional investors to facilitate risky investments.{{Cite web |date=9 September 2024 |title=Europe's Draghi report unleashed: These are the 5 things to watch |url=https://www.politico.eu/article/europe-mario-draghi-report-unleashed-eurozone-debt-crisis-ecb-competition-investment/ |access-date=2024-09-12 |website=POLITICO |language=en-GB}} Draghi warned that if the EU failed to catch up with its rivals, it would face "slow agony". He wrote that the EU "needs far more coordinated industrial policy, more rapid decisions and massive investment if it wants to keep pace economically with rivals [sic] the United States and China".{{Cite web|url=https://www.reuters.com/markets/europe/draghi-urges-reform-massive-investment-revive-lagging-eu-economy-2024-09-09/|title=Draghi urges EU to catch up rivals or face 'slow agony'|work=Reuters }} The report was expected to affect transatlantic ties in the years to come.{{Cite web|url=https://www.euractiv.com/section/economy-jobs/news/how-the-draghi-report-could-affect-future-eu-us-relations/|title=How the Draghi report could affect future EU-US relations – Euractiv|date=9 September 2024 }}

The report supports joint borrowing, something von der Leyen and various member states immediately rejected.{{Cite web |date=11 September 2024 |title=Q+A: No, Draghi does not want €800b in EU debt |url=https://www.theparliamentmagazine.eu/news/article/unpacking-the-draghi-report-we-need-to-have-more-investments-period |access-date=2024-09-12 |website=The Parliament Magazine |language=en}}{{Cite web |last1=Carretta |first1=David |last2=Spillmann |first2=Christian |date=10 September 2024 |title=Ursula von der Leyen utilisera Draghi "à la carte" |url=https://lamatinaleeuropeenne.substack.com/p/ursula-von-der-leyen-utilisera-draghi |access-date=2024-09-12 |website=La Matinale Européenne}}{{Cite web |date=9 September 2024 |title=Germany's Lindner rejects Draghi's common borrowing proposal |url=https://www.politico.eu/article/germanys-lindner-rejects-draghis-common-borrowing-proposal/ |access-date=2024-09-12 |website=POLITICO |language=en-GB}}

The Draghi report makes the energy sector a top priority.{{Cite web |last=Zachmann |first=Georg |date=5 May 2025 |title=Draghi’s pitch to improve the competitiveness of energy-intensive industry |url=https://www.bruegel.org/first-glance/draghis-pitch-improve-competitiveness-energy-intensive-industry |access-date=2025-05-30 |website=Bruegel {{!}} The Brussels-based economic think tank |language=en}} Updates and extensions of the European power grid are necessary.{{Cite AV media |url=https://on.orf.at/video/14277665/fokus-europa |title=Fokus Europa |language=de |access-date=2025-05-30 |via=on.orf.at}}{{Cite web |first1=Kirsten |last1=Westphal |first2=Maria |last2=Pastukhova |first3=Jacopo Maria |last3=Pepe |title=Geopolitics of Electricity: Grids, Space and (political) Power |url=https://www.swp-berlin.org/publikation/geopolitics-of-electricity-grids-space-and-political-power |access-date=2025-05-30 |website=Stiftung Wissenschaft und Politik |language=de}}

The report's stress on the necessity to develop cross border electricity management (Capacity Allocation and Congestion Management) by power exchanges and transmission system operators was confirmed by the 2025 Iberian Peninsula blackout.

The report had been eagerly awaited by some,{{Cite web|url=https://www.politico.eu/article/europe-mario-draghi-report-unleashed-eurozone-debt-crisis-ecb-competition-investment/|title=Europe's Draghi report unleashed: These are the 5 things to watch|date=9 September 2024|website=POLITICO}} and initial reactions from think-tankers were mixed,{{Cite web|url=https://www.euronews.com/my-europe/2024/09/11/the-draghi-eu-competitiveness-report-the-reactions|title=The Draghi EU competitiveness report – the reactions|date=11 September 2024|website=euronews}} while The Economist compared the plan's scope to the 1948 Marshall Plan.{{cite news |title=Mario Draghi outlines his plan to make Europe more competitive |url=https://www.economist.com/by-invitation/2024/09/09/mario-draghi-outlines-his-plan-to-make-europe-more-competitive |newspaper=The Economist}} A report out of Chatham House opined that "Stark recommendations in the Draghi report risk being thwarted by a European leadership vacuum – and a lacking sense of urgency."

Critics pointed to a lack of representation of the stakeholders consulted in the creation of the report. Central and Eastern Europe as well as the civil society and trade unions were underrepresented, causing it to focus too much on core European countries and on business interests, and addressing social and ecological challenges with fewer points of view only.{{Cite web|url=https://www.euronews.com/my-europe/2024/09/20/draghis-landmark-eu-report-slammed-as-one-sided|title=Critics slam Mario Draghi's landmark EU competitiveness report as 'one-sided'|date=20 September 2024|website=euronews}}

French economist Thomas Piketty welcomed the Draghi report as "going in the right direction" and "having the immense merit of overturning the dogma of fiscal austerity".{{Cite web |url=https://www.lemonde.fr/idees/article/2024/09/14/thomas-piketty-le-rapport-draghi-a-l-immense-merite-de-tordre-le-cou-au-dogme-de-l-austerite-budgetaire_6317119_3232.html |title=Thomas Piketty : « Le rapport Draghi a l'immense mérite de tordre le cou au dogme de l'austérité budgétaire » |date=14 September 2024 |access-date=2024-09-16 |publisher=Le Monde |language=fr}}

Italian economist Lucrezia Reichlin wrote: "According to Draghi, the challenges Europe is facing are nothing short of existential."{{Cite web |last=Reichlin |first=Lucrezia |date=28 September 2024 |title=Will the EU heed Draghi’s call for integration? |url=https://www.gulf-times.com/article/691535/opinion/will-the-eu-heed-draghis-call-for-integration |access-date=2025-06-11 |website=Gulf Times |language=en}}

Letta Report (2024)

• {{Official website|https://commission.europa.eu/topics/strengthening-european-competitiveness/eu-competitiveness-looking-ahead_en}}
• [http://www.europokune.eu/article34/rapdraghib2024 Translation in all official languages of EU]

{{Mario Draghi}}

Category:2024 in the European Union

Category:Government reports

Category:Mario Draghi

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