Report offers solutions for Europe's sluggish economy
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A report led by Mario Draghi, former head of the European Central Bank, outlines solutions for Europe's sluggish economy, which grew only 0.4% in 2023 compared to 2.5% in the U.S. The report emphasizes the need for increased public investments of 4.4%-4.7% of annual economic output, amounting to $750 billion-$800 billion, to transition to clean energy and enhance defense capabilities. It highlights Europe's dependency on external sources for energy, growth, and defense, urging better collaboration among EU member states. Draghi points out the innovation gap with the U.S., noting that no EU company worth over $100 billion has been established in the last fifty years. The report also stresses the importance of reducing reliance on U.S. defense equipment and investing in joint military projects. The effectiveness of these recommendations depends on political will from EU governments and parliament.

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https://www.investmentexecutive.com/news/research-and-markets/report-offers-solutions-for-europes-sluggish-economy/