Economic reforms: Why Mario Draghi fears Europe's decline
Reading time: 4 min.
|A year ago, the former head of the EU's central bank held up a mirror and called for fundamental economic reforms. Since then, he believes far too little has happened – and in a dramatic plea, urges haste.
The savior of the euro sounds gloomy. Mario Draghi speaks soberly, as always, but what he has to say this Tuesday in Brussels turns out to be his sharpest appeal yet. After the 2024 summer recess, he held up a mirror to the European Union in a study, urged reforms, and warned of a gradual decline of the European economic model. The report served as a blueprint for the political program of the new EU Commission , with economic policy and competition at its core. Since then, the Russian threat has grown, US President Donald Trump has dismantled the world trade order, and Europe's systemic competitor, China, demonstrates its strengths daily.
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