Jump to content

Draghi report: Difference between revisions

Edit links
From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
ref name="ch1"
Tags: Mobile edit Mobile web edit Advanced mobile edit
Filled in 4 bare reference(s) with reFill 2
Line 13: Line 13:


=== Competitiveness ===
=== Competitiveness ===
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.<ref>{{Cite web |date=2024-09-09 |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}}</ref> 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 the United States and China.<ref name="rtr1">{{cite news|title=Draghi urges EU to catch up rivals or face 'slow agony'|url=https://www.reuters.com/markets/europe/draghi-urges-reform-massive-investment-revive-lagging-eu-economy-2024-09-09/}}</ref> The report was expected to affect transatlantic ties in the years to come.<ref name="eura2">{{cite news |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 }}</ref>
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.<ref>{{Cite web |date=2024-09-09 |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}}</ref> 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 the United States and China.<ref name="rtr1">{{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'}}</ref> The report was expected to affect transatlantic ties in the years to come.<ref name="eura2">{{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}}</ref>


=== EU budget ===
=== EU budget ===
Line 19: Line 19:


==Reactions==
==Reactions==
The report was eagerly awaited by some,<ref name="peu1">{{cite news |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/}}</ref> and initial reactions from think-tankers were mixed,<ref name="en1">{{cite news |title=The Draghi EU competitiveness report - the reactions |url=https://www.euronews.com/my-europe/2024/09/11/the-draghi-eu-competitiveness-report-the-reactions}}</ref> while ''[[The Economist]]'' compared his plan's scope to the 1948 [[Marshall Plan]].<ref name="econ1">{{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}}</ref> A report out of [[Chatham House]] opined that "Stark recommendations in the report risk being thwarted by a European leadership vacuum – and a lacking sense of urgency."<ref name="ch1" />
The report was eagerly awaited by some,<ref name="peu1">{{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=September 9, 2024|website=POLITICO}}</ref> and initial reactions from think-tankers were mixed,<ref name="en1">{{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=September 11, 2024|website=euronews}}</ref> while ''[[The Economist]]'' compared his plan's scope to the 1948 [[Marshall Plan]].<ref name="econ1">{{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}}</ref> A report out of [[Chatham House]] opined that "Stark recommendations in the report risk being thwarted by a European leadership vacuum – and a lacking sense of urgency."<ref name="ch1" />


French economist and Corbynista [[Thomas Piketty]] welcomed the report as "going in the right direction" and "having the immense merit of overturning the dogma of fiscal austerity".<ref name=lm1>{{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 » |access-date=2024-09-16 |publisher=[[Le Monde]] |language=fr}}</ref>
French economist and Corbynista [[Thomas Piketty]] welcomed the report as "going in the right direction" and "having the immense merit of overturning the dogma of fiscal austerity".<ref name=lm1>{{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 » |access-date=2024-09-16 |publisher=[[Le Monde]] |language=fr}}</ref>

Revision as of 07:49, 8 October 2024

Draghi report
AuthorMario Draghi
Original titleThe future of European competitiveness – A competitiveness strategy for Europe
Publication date
9 September 2024

The Draghi report is a 2024 report addressing European competitiveness and the future of the European Union. Authored by former ECB chief Mario Draghi, it was one of two widely anticipated reports on EU reforms in 2024, together with the Letta report. Parts of the Draghi report's proposals have already been adopted by European Commission president Ursula von der Leyen for the work programme of her 2024–2029 Commission term.[1][2]

Content

Competitiveness

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.[3] 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 the United States and China.[4] The report was expected to affect transatlantic ties in the years to come.[5]

EU budget

The report supports joint borrowing, something Ursula von der Leyen and various member states immediately rejected.[6][7][8]

Reactions

The report was eagerly awaited by some,[9] and initial reactions from think-tankers were mixed,[10] while The Economist compared his plan's scope to the 1948 Marshall Plan.[11] A report out of Chatham House opined that "Stark recommendations in the report risk being thwarted by a European leadership vacuum – and a lacking sense of urgency."[2]

French economist and Corbynista Thomas Piketty welcomed the report as "going in the right direction" and "having the immense merit of overturning the dogma of fiscal austerity".[12]

References

  1. ^ "Five questions (and expert answers) about Draghi's new report on European competitiveness". Atlantic Council. 2024-09-10. Retrieved 2024-09-12.
  2. ^ a b "Mario Draghi's competitiveness report sets a political test for the EU". Chatham House – International Affairs Think Tank.
  3. ^ "Europe's Draghi report unleashed: These are the 5 things to watch". POLITICO. 2024-09-09. Retrieved 2024-09-12.
  4. ^ "Draghi urges EU to catch up rivals or face 'slow agony'".
  5. ^ "How the Draghi report could affect future EU-US relations – Euractiv".
  6. ^ "Q+A: No, Draghi does not want €800b in EU debt". The Parliament Magazine. 2024-09-11. Retrieved 2024-09-12.
  7. ^ Carretta, David; Spillmann, Christian (2024-09-10). "Ursula von der Leyen utilisera Draghi "à la carte"". La Matinale Européenne. Retrieved 2024-09-12.
  8. ^ "Germany's Lindner rejects Draghi's common borrowing proposal". POLITICO. 2024-09-09. Retrieved 2024-09-12.
  9. ^ "Europe's Draghi report unleashed: These are the 5 things to watch". POLITICO. September 9, 2024.
  10. ^ "The Draghi EU competitiveness report - the reactions". euronews. September 11, 2024.
  11. ^ "Mario Draghi outlines his plan to make Europe more competitive". The Economist.
  12. ^ "Thomas Piketty : « Le rapport Draghi a l'immense mérite de tordre le cou au dogme de l'austérité budgétaire »" (in French). Le Monde. Retrieved 2024-09-16.


Stub icon

This article about the European Union is a stub. You can help Wikipedia by expanding it.

Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=Draghi_report&oldid=1250060400"