1、 20 January 2025 Mario Draghis report“The Future of European Competitiveness”of 9 September 2024 makes an important contribution to the debate on how to secure the economic strength and stability of Europe for the long term.In times fraught with weak growth,global instability,geopolitical tensions a

2、nd intensifying international competition,particularly from the United States and China,this report is a wake-up call for Europe.The stark analysis shows that Europes competitiveness is under increasing pressure.Over the last thirty years,the EU has fallen markedly behind the United States and China

3、 in terms of growth,productivity and innovative strength.Europe is at risk of being left behind in key technologies such as artificial intelligence and quantum computing.Inflated energy prices and heavy dependence on third countries for critical raw materials pose an additional burden.At the same ti

4、me,the EU must further decarbonise its economy in order to reach its climate targets.The EU needs an industrial policy strategy that drives key technologies such as artificial intelligence and green innovations forward.Research and development efforts have to be stepped up to increase resilience to

5、shocks.The parameters for European businesses must be radically improved by lowering energy prices,establishing an ambitious Capital Markets Union,improving access to skilled workers and,above all,by reducing red tape.Further necessary steps are intensifying cooperation between Member States and dee

6、pening the Single Market.Many recommendations set out in the Draghi Report are also included in the Mission Letters to the new European Commissioners.December 2024,when the new European Commission takes office,is a good point in time to take a comprehensive look at the key findings of the Draghi Rep