BusinessEurope welcomes Draghi report and calls for urgent action to restore the EU’s competitive edge

9 September 2024 - Welcoming the much-anticipated report on the future of the EU’s competitiveness, presented today by Professor Mario Draghi, BusinessEurope President Fredrik Persson said:

"We welcome the release of this comprehensive report and extend our gratitude to Professor Draghi and his team for the extensive work. The report will undoubtedly play a critical role in shaping future EU strategies and policies.

A stark and alarming conclusion of the report is that the European Union is lagging behind its global competitors – a reality that European companies experience daily. We fully endorse the call for a frank and urgent discussion on the disruptive measures the EU must adopt to regain its competitive edge. BusinessEurope has long advocated for a reboot in European policies as we enter the next institutional cycle.

We will pay close attention to the call for a renewed industrial strategy, which rightly prioritises measures like incentivising productive investments in Europe, lowering energy costs or reducing regulatory burdens on companies. Market forces should be at the core of such a strategy, rather than excessive public intervention.

We will conduct a thorough review of the report’s recommendations."