Mario Draghi's report on EU competitiveness will inform the new European Commission's agenda for the next five years, likely translating into proposals to create a more assertive and coordinated EU industrial policy, sweeping regulatory reforms, and measures aimed at spurring investment in advanced technologies, energy infrastructure, decarbonization and defense. However, political, financial and structural constraints will limit the extent to which Brussels will deliver on Draghi's ambitious targets. Former European Central Bank President and Italian Prime Minister Mario Draghi published his long-awaited report on the future of European competitiveness on Sept. 9. Requested by European Commission President Ursula von der Leyen in 2023, the report identifies several challenges to European competitiveness in areas such as defense, energy and advanced technologies that have gradually pushed high-growth companies away from Europe, hindering the development of innovative industries in the region, slowing growth and ultimately weighing on Europeans' prosperity. The report thus lays...
