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Draghi To Present Competitiveness Report @ 1100CET

EU
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Former Italian PM and ECB president Mario Draghi is set to present his long-awaited, 400-page report on EU competitiveness this morning at 1100CET (0500ET, 1000BST). A livestream for the event can be found here. The report is seen as something of a guideline for European Commission economic policy over the coming years as Commission President Ursula von der Leyen finalises here team ahead of October's committee hearings.

  • Politico reports, "It’s expected to be packed full of ideas on how Europe can stave off decline and start competing more effectively against the U.S. and China [...] [the report] will include a blaring headline call to invest some €900 billion into the European economy, ASAP. Expect suggestions from Draghi on how this could be funded, for instance via taxes raised directly by the EU."
  • An unnamed EU diplomat also told Politico: “We keep hearing about this call for multi-hundreds of billions of euros. But how feasible is that in an environment where the Germans have a budget crisis, the Dutch have said they want to lower their contribution to the EU and the French lack a government?”
  • While there have been few leaks from the report, initially expected prior to the European Parliament elections in June, after a presentation to EU ambassadors and MEPs last week there is broad expectation that the report will position both the US and China as major economic competitors for the EU.
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Former Italian PM and ECB president Mario Draghi is set to present his long-awaited, 400-page report on EU competitiveness this morning at 1100CET (0500ET, 1000BST). A livestream for the event can be found here. The report is seen as something of a guideline for European Commission economic policy over the coming years as Commission President Ursula von der Leyen finalises here team ahead of October's committee hearings.

  • Politico reports, "It’s expected to be packed full of ideas on how Europe can stave off decline and start competing more effectively against the U.S. and China [...] [the report] will include a blaring headline call to invest some €900 billion into the European economy, ASAP. Expect suggestions from Draghi on how this could be funded, for instance via taxes raised directly by the EU."
  • An unnamed EU diplomat also told Politico: “We keep hearing about this call for multi-hundreds of billions of euros. But how feasible is that in an environment where the Germans have a budget crisis, the Dutch have said they want to lower their contribution to the EU and the French lack a government?”
  • While there have been few leaks from the report, initially expected prior to the European Parliament elections in June, after a presentation to EU ambassadors and MEPs last week there is broad expectation that the report will position both the US and China as major economic competitors for the EU.