A year ago, the call was made to "save Europe's competitiveness." One year later, Draghi gave a "frustrated" summary: Europe has done nothing and is too complacent.

A year ago, the call was made to "save Europe's competitiveness." One year later, Draghi gave a "frustrated" summary: Europe has done nothing and is too complacent.

``` Former President of the European Central Bank and former Italian Prime Minister Mario Draghi warned that the competitiveness of the European economy is regressing due to "inaction" on the part of EU headquarters and the governments of member states. This harsh criticism comes exactly one year after he put forward a comprehensive set of recommendations to save European competitiveness. On September 17, according to the Financial Times, Draghi said on Tuesday that a year later, "Europe is in a more difficult position," its growth model is deteriorating, and vulnerabilities are increasing. According to the Brussels think tank European Policy Innovation Committee, only 11.2% of the 383 recommendations made by Draghi over the past year have been implemented. European Commission President Ursula von der Leyen acknowledged that the EU lacks a "sense of urgency" in advancing the competitiveness agenda. She pointed out that the EU's single market is far from complete and called for accelerating the stalled reform of merger rules. It is reported that this slow progress is causing concern in the market. In the second quarter of 2025, the growth rate of the US economy will be eight times that of the EU, while European companies and investors are still waiting for clear policy signals from Brussels before making investment decisions. Draghi Fiercely Criticizes Europe’s "Complacency" Draghi expressed clear dissatisfaction with Europe's performance over the past year. The veteran politician, who once led the ECB through the sovereign debt crisis, was commissioned by the European Commission in September last year to draft a competitiveness report containing 383 recommendations aimed at narrowing the gap between Europe and global rivals such as the United States. Draghi stated: "Our growth model is deteriorating, vulnerabilities are increasing, and we are painfully aware that inaction threatens not only our competitiveness but our very sovereignty." He particularly criticized Europe's "complacent" mentality: "Too often, excuses are made for this slowness. We say this is how the EU system works. Sometimes, inertia is even dressed up as respect for the rule of law. That is complacency." According to data cited by the European Policy Innovation Committee, only 11.2% of the 383 recommendations in Draghi's report have been implemented over the past year, with the rest bogged down in political disagreements and bureaucratic disputes. This slow pace of implementation stands in stark contrast to the urgent economic challenges facing Europe. In response, European officials argue that von der Leyen and EU leaders have been busy responding to the threat of a trade war with the United States and maintaining the Trump administration's engagement on Ukraine. Von der Leyen Admits Lack of Urgency European Commission President Ursula von der Leyen, who commissioned the competitiveness report from Draghi, acknowledged the seriousness of the issue. She admitted that the EU lacks a "sense of urgency" in advancing the competitiveness agenda. Von der Leyen stated: "Our single market is far from complete… It should not be easier to seek opportunities across the ocean than to cross European borders. We need urgent action for urgent needs, because our businesses and workers can no longer wait." She specifically mentioned the still-pending reform of EU merger rules, one of the key recommendations in Draghi's report, and called on Competition Commissioner Teresa Ribera to speed up the process. It is worth noting that the uncertainty over the implementation of key recommendations in the Draghi report has already sown confusion in the market, leaving industry and business leaders frustrated. Many investors are waiting for clear signals from Brussels before making investment decisions. Von der Leyen stated: "We will have to move forward with the release of merger guidelines. I think the time has come to deliver results." Draghi warned, "Europe's citizens and businesses… are expressing growing frustration. They are disappointed with the EU's slow actions. They see that we have failed to keep up with the pace of change elsewhere. They are ready to act, but fear that governments are not grasping the seriousness of this moment." Risk Warning and Disclaimer The market has risks, and investment must be cautious. This article does not constitute individual investment advice, nor does it take into account the unique investment goals, financial situations, or needs of individual users. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific circumstances. Any investment based on this article is at your own risk. ```