Draghi Cabinet

Europe's difficulties are multiplying.

Mario Draghi recently released a report on Europe's competitiveness that has sparked debate across the continent. The report, which shows Europe lagging behind the US and China in a number of areas, has many asking if the continent's leaders will heed his call to action.

In Europe, we all needed what Mario Draghi offered us last week. In the 400 pages of his report on the future of European competitiveness, he first reminded us of the values on which it was founded and for which the European Union deserves to exist.

Mario Draghi's warnings about the future of the European Union if it does not proceed with radical solutions for its economy are more than clear. 

Prolonging inactivity will jeopardize the well-being and safety of its citizens, even its raison d'etre, he said in his long-awaited report. 

The title is wrong.

An additional 800 billion euros per year in investments are needed by the European Union to undertake rapid and substantial reforms to address its lag behind the United States and China. This is detailed in the much-anticipated report on EU competitiveness, prepared by former European Central Bank Governor Mario Draghi at the request of European Commission President Ursula von der Leyen.

European Union countries are buying too much of their defense equipment abroad, almost two thirds of it in the United States, and failing to invest enough in joint military projects, a landmark report on EU competitiveness warned on Monday.

Mario Draghi is calling for up to 800 billion euros a year in additional investment from EU member states so that the EU can regain the competitiveness of its economy and avoid being trapped in the US and China.

Foreign Minister George Gerapetritis will meet with EU Special Representative for the Gulf region Luigi Di Maio on Thursday 21 March at 17:30, the Foreign Ministry said in an announcement on Wednesday.

"Moscow and Kyiv are just days away from finalizing an agreement that will allow millions of tons of Ukrainian grain to pass through the Black Sea", Turkish President Recep Tayyip Erdogan said.