The future of European competitiveness

Summary:

Report drafted by Mario Draghi and published in September 2024 on the challenges facing the companies and industries in the European Union's (EU) single market.

Further information:

This report identifies three main areas for action to engage in sustainable growth. First, it argues that the EU must refocus its collective efforts on closing the innovation gap with the United States (USA) and China, especially in advanced technologies. Secondly, EU institutions should agree on a joint plan for decarbonisation and competitiveness. A third area for action requires increasing security and reducing dependencies.

The report is divided in two parts:

• Part A | The future of European competitiveness – A competitiveness strategy for Europe
• Part B | The future of European competitiveness – In-depth analysis and recommendations

This report was requested by the President of the European Commission and announced in her 2023 State of the European Union (SOTEU) address.

• Primary Source

Commentary and Analysis

European Round Table for Industry, 10/01/2024: ERT delegation meets Professor Mario Draghi to discuss measures to revive Europe’s competitiveness https://ert.eu/documents/ert-delegation-meets-professor-mario-draghi-to-discuss-measures-to-revive-europes-competitiveness/

Groupe d'Études Politiques: Mario Draghi: Radical Change — Is What Is Needed (16 April 2024) https://geopolitique.eu/en/2024/04/16/radical-change-is-what-is-needed/

EUObserver: Column, 16/04/2024: What do we actually mean by EU 'competitiveness'? https://euobserver.com/eu-political/ar9f1d8225

The New Statesman: Comment, 22/04/2024: Mario Draghi’s search for the European soul https://www.newstatesman.com/comment/2024/04/mario-draghis-search-for-the-european-soul

Social Europe, 30/04/2024: Europe cannot ‘compete’ with old economics https://www.socialeurope.eu/europe-cannot-compete-with-old-economics

Atlantic Council: New Atlanticist Blog, 30/04/2024: The case for Mario Draghi as the next European Council president https://www.atlanticcouncil.org/blogs/new-atlanticist/the-case-for-mario-draghi-european-council-president/

Association of European Chambers of Commerce and Industry (Eurochambres), May 2024: Input to forthcoming ‘Draghi Report’ on the future of European competitiveness https://www.eurochambres.eu/wp-content/uploads/2024/05/ECH-EU-competitiveness.pdf

Center for European Policy Analysis (CEPA), 01/05/2024: Cosa Fare? Europe Tackles Its Competitiveness Gap https://cepa.org/article/cosa-fare-europe-tackles-its-competitiveness-gap/

Corporate Europe Observatory: Open letter to Mario Draghi and Ursula von der Leyen on Mario Draghi's competitiveness report (8 May 2024) https://corporateeurope.org/en/2024/05/open-letter-mario-draghi-and-ursula-von-der-leyen-mario-draghis-competitiveness-report

Corporate Europe Observatory: Opinion, 14/05/2024: Draghi's report lacks transparency and risks capture by big business https://www.corporateeurope.org/en/2024/05/draghis-report-lacks-transparency-and-risks-capture-big-business

European Broadcasting Union (EBU): Blog, 10/06/2024: Are we ready to do “whatever it takes”? https://www.ebu.ch/news/2024/06/are-we-ready-to-do-whatever-it-takes

Groupe d'Études Politiques: Mario Draghi: An Industrial Strategy For Europe (14 June 2024) https://geopolitique.eu/en/2024/06/14/mario-draghi-grand-continent-an-industrial-strategy-for-europe/

Digital Europe: Joint letter: Competitiveness must be on the menu for EU leaders tonight (17 June 2024) https://www.digitaleurope.org/news/joint-letter-competitiveness-must-be-on-the-menu-for-eu-leaders-tonight/

European Centre for International Political Economy (ECIPE): Webinar, 20/06/2024: Waiting for Draghi – Defining Europe’s Productivity Problem https://ecipe.org/events/ecipe-webinar-waiting-for-draghi/

Politico: Capital Letter, 21/06/2024: A New Economics Playbook is About to Drop in Europe. The U.S. Should be on Notice. https://www.politico.com/news/2024/06/21/mario-draghi-economic-reforms-washington-00164290

Project Syndicate: Commentary, 30/08/2024: What Will It Take to Awaken Europe? https://www.project-syndicate.org/commentary/draghi-letta-reports-agree-on-what-eu-must-do-by-jean-pisani-ferry-2024-08

The Economist: The Invitation, 09/09/2024: Euro-vision. Mario Draghi outlines his plan to make Europe more competitive https://www.economist.com/by-invitation/2024/09/09/mario-draghi-outlines-his-plan-to-make-europe-more-competitive

Politico, 09/09/2024: Europe’s Draghi report unleashed: These are the 5 things to watch https://www.politico.eu/article/europe-mario-draghi-report-unleashed-eurozone-debt-crisis-ecb-competition-investment/

Euronews, 09/09/2024: Draghi’s report on EU competitiveness - five key takeaways https://www.euronews.com/my-europe/2024/09/09/draghis-report-on-eu-competitiveness-five-key-takeaways

Groupe d'Études Politiques: Draghi’s Report: A force for reform (9 September 2024) https://geopolitique.eu/en/2024/09/09/the-draghi-report-a-force-for-reform/

---

News

Climate Action Network (CAN Europe): Open Letter on European competitiveness report (8 February 2024) https://caneurope.org/open-letter-on-european-competitiveness-report/

Bloomberg, 24/02/2024: Draghi Urges EU to Ready Huge Spending as World Order Shifts https://www.bloomberg.com/news/articles/2024-02-24/draghi-urges-eu-to-ready-huge-investment-as-world-order-shifts

EurActiv, 16/04/2024: Draghi: EU must enact ‘radical change’ as US and China refuse to ‘play by the rules’ https://www.euractiv.com/section/economy-jobs/news/draghi-eu-must-enact-radical-change-as-us-and-china-refuse-to-play-by-the-rules/

The Brussels Times, 17/04/2024: Europe needs to move on from 'the world of yesterday', says Mario Draghi https://www.brusselstimes.com/1009914/europe-needs-to-move-on-from-the-world-of-yesterday-says-mario-draghi

Science Business, 18/06/2024: Make EU research and innovation a “collective priority”, Draghi says https://sciencebusiness.net/news/fp10/make-eu-research-and-innovation-collective-priority-draghi-says

Politico, 12/07/2024: Draghi’s EU competitiveness plan set to be delayed until September https://www.politico.eu/article/mario-draghi-europe-eu-union-italy-politics-report-central-bank-china-commission-france/

Reuters, 04/09/2024: Draghi says EU is falling behind its rivals in competitiveness https://www.reuters.com/markets/europe/draghi-says-eu-is-falling-behind-its-rivals-competitiveness-2024-09-04/

EurActiv, 05/09/2024: ‘Quite underwhelming’: Draghi briefing on competitiveness report light on details https://www.euractiv.com/section/economy-jobs/news/quite-underwhelming-draghi-briefing-on-competitiveness-report-light-on-details/

Euronews, 09/09/2024: Draghi calls for EU common borrowing, end to national vetoes to compete with China, US https://www.euronews.com/my-europe/2024/09/09/what-is-the-long-awaited-draghi-report-on-eu-competitiveness

Reuters, 09/09/2024: Draghi urges reform, investment drive to revive lagging EU https://www.reuters.com/markets/europe/draghi-urges-reform-massive-investment-revive-lagging-eu-economy-2024-09-09/

Bloomberg, 09/09/2024: Draghi Says EU Itself at Risk Without More Funds and Joint Debt https://www.bloomberg.com/news/articles/2024-09-09/draghi-says-eu-in-danger-without-massive-spending-and-joint-debt

The Irish Times, 09/09/2024: EU will have to scale back ambition if competitive ‘crisis’ not tackled - Mario Draghi https://www.irishtimes.com/business/2024/09/09/eu-will-have-to-scale-back-ambition-if-competitive-crisis-not-tackled-mario-draghi/

EurActiv, 09/09/2024: Lack of productivity growth ‘existential challenge’ for Europe, Draghi report says https://www.euractiv.com/section/economy-jobs/news/lack-of-productivity-growth-existential-challenge-for-europe-draghi-report-says/

Delano, 09/09/2024: EU needs €800bn and reforms to boost competitiveness, says Draghi https://delano.lu/article/competitiveness-800bn-and-refo

The Guardian: Business Live, 09/09/2024: Mario Draghi warns EU at risk without ‘new industrial strategy’ and €800bn a year investment boost https://www.theguardian.com/business/live/2024/sep/09/us-recession-fears-hit-markets-aldi-more-uk-stores-profits-double-business-live

RTÉ News, 09/09/2024: Draghi urges reform, investment drive to revive lagging EU https://www.rte.ie/news/business/2024/0909/1469106-europe-faces-existential-challenge-to-up-productivity/

---

Official

European Commission: DG Communication: Topics: EU competitiveness: Looking ahead https://commission.europa.eu/topics/strengthening-european-competitiveness/eu-competitiveness-looking-ahead_en

Renew Europe EP Group: Newsroom, 04/09/2024: EU competitiveness relaunch a priority for Renew Europe https://www.reneweuropegroup.eu/news/2024-09-04/eu-competitiveness-relaunch-a-priority-for-renew-europe

European Commission: Statement by President von der Leyen at the joint press conference with Mario Draghi on the report on the future of EU competitiveness (9 September 2024) https://ec.europa.eu/commission/presscorner/detail/en/statement_24_4601

EPP EP Group: Newsroom, 09/09/2024: EPP Group shares Draghi's wake-up call on competitiveness and single market completion https://www.eppgroup.eu/newsroom/epp-group-shares-draghi-s-wake-up-call

Renew Europe EP Group: Newsroom, 09/09/2024: Mr Draghi’s report is a wake-up call for Europe https://www.reneweuropegroup.eu/news/2024-09-09/mr-draghis-report-is-a-wake-up-call-for-europe

---