Draghi Competitiveness Report — €800B Annual Investment Gap Identified

Former ECB President and Italian Prime Minister Mario Draghi presented his landmark report 'The future of European competitiveness' to the European Commission. The report identified an annual investment gap of €750-800 billion relative to the US and China, called for a new approach to industrial policy, and recommended reforming state aid rules, completing the Capital Markets Union, and issuing common EU safe assets. It framed EU competitiveness as an existential challenge.