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. Mr Draghi addressed the plenary of the European Parliament on 17 September 2024.

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

European Parliament: Press Release, 17/09/2024: Draghi to MEPs: “Europe faces a choice between exit, paralysis, or integration” https://www.europarl.europa.eu/news/en/press-room/20240913IPR23903/

European Commission: DG Regional & Urban Development: News, 23/10/2024: Draghi’s report on the future of European competitiveness: a blueprint for Europe’s demographic and regional cohesion https://ec.europa.eu/regional_policy/whats-new/newsroom/23-10-2024-draghi-s-report-on-the-future-of-european-competitiveness-a-blueprint-for-europe-s-demographic-and-regional-cohesion_en

---

News

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/

Le Monde, 10/09/2024: European Union Mario Draghi's competitiveness report: EU condemned to 'slow agony' if no change https://www.lemonde.fr/en/economy/article/2024/09/10/mario-draghi-s-competitiveness-report-eu-condemned-to-slow-agony-if-no-change_6725504_19.html

Science Business, 10/09/2024: High-power report urges big push – and budget – for EU innovation https://sciencebusiness.net/news/fp10/high-power-report-urges-big-push-and-budget-eu-innovation

Euronews, 11/09/2024: The Draghi EU competitiveness report - the reactions https://www.euronews.com/my-europe/2024/09/11/the-draghi-eu-competitiveness-report-the-reactions

Delano, 11/09/2024: Draghi makes shock proposals for reforms in competitiveness report https://delano.lu/article/mario-draghi-makes-shock-propo

EurActiv, 30/09/2024: Common debt not ‘essential’ for EU competitiveness, says Draghi https://www.euractiv.com/section/economy-jobs/news/common-debt-not-essential-for-eu-competitiveness-says-draghi/

---

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/

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

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

Bruegel: First Glance, 09/09/2024: Draghi’s industrial masterplan has decarbonisation at its core https://www.bruegel.org/first-glance/draghis-industrial-masterplan-has-decarbonisation-its-core

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/

Royal Institute of International Affairs (Chatham House): Expert Comment, 10/09/2024: Mario Draghi’s competitiveness report sets a political test for the EU https://www.chathamhouse.org/2024/09/mario-draghis-eu-competitiveness-report-sets-political-test-eu

The Economist, 10/09/2024: Mario Draghi’s best ideas are those Europe finds least comfortable. The danger is that it picks the easy ones https://www.economist.com/leaders/2024/09/10/mario-draghis-best-ideas-are-those-europe-finds-least-comfortable

Atlantic Council: New Atlanticist Blog, 10/09/2024: Five questions (and expert answers) about Draghi’s new report on European competitiveness https://www.atlanticcouncil.org/blogs/new-atlanticist/draghis-new-report-on-european-competitiveness/

Bruegel: First Glance, 11/09/2024: The Draghi report and competition policy https://www.bruegel.org/first-glance/draghi-report-and-competition-policy

Wolters Kluwer: Competition Law Blog, 11/09/2024: Whatever It Takes to Innovate: Draghi’s Plans for EU Competition Policy https://competitionlawblog.kluwercompetitionlaw.com/2024/09/11/whatever-it-takes-to-innovate-draghis-plans-for-eu-competition-policy/

Center for European Policy Analysis (CEPA): Article, 11/09/2024: Digital Draghi: Europe Needs Tech to Stay Competitive https://cepa.org/article/digital-draghi-europe-needs-tech-to-stay-competitive/

Bruegel: First Glance, 11/09/2024: Draghi disappoints on digital https://www.bruegel.org/first-glance/draghi-disappoints-digital

Centre for European Policy Studies (CEPS): Commentary, 12/09/2024: The EU according to Draghi – as competitive as needed, as sustainable as possible https://www.ceps.eu/the-eu-according-to-draghi-as-competitive-as-needed-as-sustainable-as-possible/

Social Europe, 12/09/2024: Draghi report: a social agenda is lacking https://www.socialeurope.eu/draghi-report-a-social-agenda-is-lacking

Centre for European Reform (CER): Opinion, 12/09/2024: 3 questions on the Draghi report on European competitiveness to Sander Tordoir https://www.cer.eu/in-the-press/3-questions-draghi-report-european-competitiveness-sander-tordoir

Verfassungsblog, 12/09/2024: Democratizing Draghi Why the “Competitiveness Report” Demands Treaty Reform https://verfassungsblog.de/draghi-report-investment-eu-competition-treaty-reform/

Bruegel: First Glance, 12/09/2024: Draghi’s pitch to improve the competitiveness of energy-intensive industry https://www.bruegel.org/first-glance/draghis-pitch-improve-competitiveness-energy-intensive-industry

Centre for European Reform (CER): Podcasts: Unpacking Europe, 13/09/2024: Evaluating Mario Draghi's report on competitiveness https://www.cer.org.uk/media/cer-podcast-unpacking-europe-evaluating-mario-draghis-report-competitiveness

E3G: Blog, 16/09/2024: Mario Draghi’s recipe for competitiveness: decarbonise, invest, industrial policy, and more Europe https://www.e3g.org/news/mario-draghi-s-recipe-for-competitiveness-decarbonise-invest-industrial-policy-and-more-europe/

London School of Economics (LSE): EUROPP Blog, 16/09/2024: Will Mario Draghi’s plan for European competitiveness work? https://blogs.lse.ac.uk/europpblog/2024/09/16/will-mario-draghis-plan-for-european-competitiveness-work/

Euronews, 16/09/2024: Draghi's competitiveness report: Can Europe heed the call to action? https://www.euronews.com/business/2024/09/16/draghis-competitiveness-report-can-europe-heed-the-call-to-action

Atlantic Council: Events, 16/09/2024: Can Europe get competitive? Insights from Mario Draghi’s competitiveness report https://www.atlanticcouncil.org/event/can-europe-get-competitive-insights-from-mario-draghis-competitiveness-report/

Centre for Economic Policy Research (CEPR): VoxEU Column, 17/09/2024: Draghi is right on many issues, but he is wrong on telecoms https://cepr.org/voxeu/columns/draghi-right-many-issues-he-wrong-telecoms

Centre for European Reform (CER): Policy Briefs, 17/09/2024: Draghi's plan to rescue the European economy: Will EU leaders do whatever it takes? https://www.cer.eu/publications/archive/policy-brief/2024/draghis-plan-rescue-european-economy

Centre for Economic Policy Research (CEPR): VoxEU Column, 18/09/2024: Draghi’s real message on European competition enforcement: “Not delivering on innovation and growth” https://cepr.org/voxeu/columns/draghis-real-message-european-competition-enforcement-not-delivering-innovation-and

Corporate Europe Observatory, 18/09/2024: Between the lines: corporate interest shapes the narrative over Draghi’s Report https://www.corporateeurope.org/en/2024/09/between-lines-corporate-interest-shapes-narrative-over-draghis-report

Institute for Sustainable Development and International Relations (IDDRI): Blog, 19/09/2024: Draghi Report: a competitiveness agenda for a more sustainable Europe? https://www.iddri.org/en/publications-and-events/blog-post/draghi-report-competitiveness-agenda-more-sustainable-europe

Kathimerini: Podcasts: The Greek Current, 19/09/2024: A plan to make Europe more competitive: Will leaders heed Draghi’s call to action? https://www.ekathimerini.com/multimedia/podcasts/1248844/a-plan-to-make-europe-more-competitive-will-leaders-heed-draghis-call-to-action/

Centre for European Policy Studies (CEPRS): Explainer, 20/09/2024: A critical first response to Mario Draghi’s competitiveness report. What it says, what it means - and is it feasible? https://www.ceps.eu/ceps-publications/a-critical-first-response-to-mario-draghis-competitiveness-report/

Science Europe: News, 26/09/2024: Research Funding at the Forefront of EU Strategy in the Draghi Report https://www.scienceeurope.org/news/research-funding-at-the-forefront-of-eu-strategy-in-the-draghi-report/

Social Europe, 27/09/2024: Draghi on ‘competitiveness’: new wine in an old bottle https://www.socialeurope.eu/draghi-on-competitiveness-new-wine-in-an-old-bottle

German Marshall Fund of the US: Insights, 27/09/2024: The Draghi Report’s Mixed Picture for Central and Eastern Europe https://www.gmfus.org/news/draghi-reports-mixed-picture-central-and-eastern-europe

Politico: Opinion, 02/10/2024: Draghi report on Europe’s competitiveness falls short https://www.politico.eu/article/mario-draghi-report-european-competitiveness-common-debt-innovation/

Center for Strategic International Studies (CSIS): Commentary, 02/10/2024: The Draghi Report: A Strategy to Reform the European Economic Model https://www.csis.org/analysis/draghi-report-strategy-reform-european-economic-model

Social Europe, 16/10/2024: Draghi’s wake-up call: Will Europe act or snooze? https://www.socialeurope.eu/draghis-wake-up-call-will-europe-act-or-snooze

Simmons & Simmons: Publications, 16/10/2024: Centralising Fund Supervision: Draghi Reform Proposal Faces Headwinds https://www.simmons-simmons.com/en/publications/cm2bohmik00zouc6c4uw04ojt/centralising-fund-supervision-draghi-reform-proposal-faces-headwinds

European Parliamentary Research Service (EPRS): Briefing, 18/10/2024: Deepening the single market in the light of the Letta and Draghi reports https://www.europarl.europa.eu/thinktank/en/document/EPRS_BRI(2024)762469

Official Monetary and Financial Institutions Forum (OMFIF): Commentary, 23/10/2024: European policy-makers are asleep at the wheel https://www.omfif.org/2024/10/european-policy-makers-are-asleep-at-the-wheel/

EurActiv: Opinion, 23/10/2024: European competitiveness depends on synergy between small and large businesses https://www.euractiv.com/section/tech/opinion/european-competitiveness-depends-on-synergy-between-small-and-large-businesses/

WindEurope: Newsroom, 24/10/2024: Draghi says PPAs are good for EU competitiveness: all EU rules must reflect that https://windeurope.org/newsroom/news/draghi-says-ppas-are-good-for-eu-competitiveness-all-eu-rules-must-reflect-that/

EurActiv: Advocacy Lab, 28/10/2024: Can Europe get fired up to compete globally on nuclear fusion? https://www.euractiv.com/section/eet/news/can-europe-get-fired-up-to-compete-globally-on-nuclear-fusion/

---