Draghi Report: Call to Rebuild Europe and the Path Ahead

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Mario Draghi - legend of the European Central Bank (ECB) - who steered the ECB through the 2012 sovereign debt crisis, has once again revived the spirit of rebuilding Europe in the report on "The Future of European Power", published on the European Commission (EC) website on 09/09. 

It can be said that Draghi's two-part report, nearly 400 pages long, has stirred up the EU community by pointing out the "unpleasant truths" that Europe is facing. For example: labor productivity and technology lagging behind the US and China, cumbersome and lack of agility in the administrative apparatus, dependence on China and the US, or high energy costs hindering industrial development… 

However, this renowned former ECB president also proposed a series of practical solutions to rebuild Europe. Many proposals in Draghi's report have been approved by the President of the European Commission (EC), Ursula von der Leyen, for her work program in the new term at the EC (2024-2029).

The report is divided into 2 parts:

• Part 1: Overview of the economic situation in Europe.

  • Proposes 3 main action objectives for the EU as well as 3 challenges hindering the success of innovation plans.

• Part 2 proposes specific policies for key economic sectors such as:

  • Energy, strategic raw materials and semiconductors, digitalization process and development of high-tech - clean technology - AI, defense, space industry, pharmaceuticals and transportation…

Due to the lengthy content of the report, Viet Hustler summarizes the highlights in part 1 of the report (and some minor details in part 2).

• Readers can view details Part 2: on proposals for each key industry here.