ECB former head Draghi urges EU to invest €750-800bn annually for competitiveness, citing industrial policy, innovation, and energy challenges.

Former ECB chief Mario Draghi has urged the EU to invest an additional €750-800 billion ($829-$884 billion) annually, roughly 5% of its GDP, to enhance competitiveness against the US and China. His report emphasizes the need for improved industrial policy, innovation, and reduced reliance on foreign minerals. It highlights the EU's slower growth and energy challenges, advocating for coordinated efforts in defense and climate goals to secure economic stability.

September 09, 2024
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