The competitiveness of European industry will be crucial in the next legislative cycle. The European Union (EU) is committed to keeping up with the powers of the United States and China. For him, the President of the European Commission, Ursula von der Leyenentrusted to the former Italian minister Mario Draghi an analysis of the bloc's competitiveness. Among his concerns, Draghi left sky-high energy prices and tech sector productivity as the main responses to be addressed.
Draghi shared his perspectives with representatives of member states and leaders of the European Parliament in Brussels. In your briefing, I mention that Europe's competitiveness has suffered from “structural brakes” in recent decades. It responds to the need to recover the capacity for innovation, address rising energy prices, address the flight of qualified professionals and accelerate digitalization, as well as strengthen defensive capabilities on the continent.
The former Italian minister stressed the urgency of these questions and flagged the critical issues that hinder the EU's competitiveness. His analysis will inform the bloc's industrial strategy for the coming years, focusing on areas such as digitalisation, defence and energy transition.
Draghi also recalled the need for greater integration in the EU, given the current context of urgency at both national and community level. Turn to leaders to take their advice seriously, as the economic future of the continent is at stake. For him, we propose to promote European values such as public services and innovation in the next five years, which are crucial to improving competitiveness.
Complementing this analysis, Enrico Lettaanother former Italian minister, also stressed the importance of integrating capital markets and considering the energy sector as fundamental for European competitiveness.
